Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – What’s Next?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $34.13, but opened at $32.64. Direxion Daily FTSE China Bull 3X Shares shares last traded at $32.00, with a volume of 1,491,063 shares traded.

Direxion Daily FTSE China Bull 3X Shares Stock Down 6.7%

The company has a market cap of $661.95 million, a P/E ratio of 8.49 and a beta of 0.93. The firm has a 50 day moving average of $41.68 and a 200-day moving average of $45.94.

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

Several institutional investors have recently made changes to their positions in the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth about $43,000. Bank of America Corp DE raised its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% in the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock valued at $128,000 after purchasing an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth approximately $223,000. Parallel Advisors LLC boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 6.0% during the third quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock valued at $288,000 after purchasing an additional 300 shares in the last quarter. Finally, 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.

Direxion Daily FTSE China Bull 3X Shares Company Profile

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.