Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Sets New 12-Month Low – Should You Sell?

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) reached a new 52-week low on Friday . The stock traded as low as $28.33 and last traded at $28.34, with a volume of 2321413 shares trading hands. The stock had previously closed at $30.50.

Direxion Daily FTSE China Bull 3X Shares Stock Down 6.4%

The stock’s 50 day moving average is $33.39 and its two-hundred day moving average is $39.41. The company has a market capitalization of $628.03 million, a PE ratio of 8.49 and a beta of 1.00.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC lifted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 6.0% during the 3rd quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock worth $288,000 after purchasing an additional 300 shares during the last quarter. Bank of America Corp DE grew its stake in Direxion Daily FTSE China Bull 3X Shares by 34.4% in the second 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 during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth about $43,000. Flow Traders U.S. LLC raised its holdings in Direxion Daily FTSE China Bull 3X Shares by 5.7% in the third quarter. Flow Traders U.S. LLC now owns 21,349 shares of the exchange traded fund’s stock worth $1,159,000 after purchasing an additional 1,152 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 58.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 9,022 shares of the exchange traded fund’s stock valued at $384,000 after buying an additional 3,341 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.