Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $34.57, but opened at $32.54. Direxion Daily FTSE China Bull 3X Shares shares last traded at $32.56, with a volume of 1,619,373 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The business has a 50-day moving average of $43.54 and a 200-day moving average of $46.64. The company has a market capitalization of $693.35 million, a P/E ratio of 8.49 and a beta of 0.93.

Hedge Funds Weigh In On Direxion Daily FTSE China Bull 3X Shares

A number of large investors have recently made changes to their positions in YINN. SBI Securities Co. Ltd. raised its position in Direxion Daily FTSE China Bull 3X Shares by 168.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 17,958 shares of the exchange traded fund’s stock worth $736,000 after purchasing an additional 11,269 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the second quarter valued at approximately $4,128,000. XTX Topco Ltd bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the second quarter valued at approximately $226,000. Flow Traders U.S. LLC raised its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 76.1% in the second quarter. Flow Traders U.S. LLC now owns 20,197 shares of the exchange traded fund’s stock worth $828,000 after buying an additional 8,725 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% during the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock worth $128,000 after acquiring an additional 800 shares during the last quarter.

About Direxion Daily FTSE China Bull 3X Shares

Direxion Daily China Bull 3x Shares ETF (the Fund) seeks daily investment results of 300% of the price performance of the BNY China Select ADR Index (the China Index). The China Index is a free float-adjusted capitalization-weighted index designed by the Bank of New York to track the performance of a basket of companies who have their primary equity listing on a stock exchange in China and which also have depositary receipts that trade on a United States exchange or on the National Association of Securities and Dealers Automated Quotation.