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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped down before the market opened on Thursday . The stock had previously closed at $33.30, but opened at $30.85. Direxion Daily FTSE China Bull 3X Shares shares last traded at $31.16, with a volume of 1,091,757 shares.

Direxion Daily FTSE China Bull 3X Shares Trading Down 1.1%

The stock has a fifty day moving average price of $39.72 and a 200 day moving average price of $45.29. The firm has a market cap of $625.78 million, a price-to-earnings 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 institutional investors have recently modified their holdings of YINN. Quadrature Capital Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth $8,411,000. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at about $4,128,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at about $4,255,000. Ping Capital Management Inc. increased its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 1.8% in the third quarter. Ping Capital Management Inc. now owns 58,000 shares of the exchange traded fund’s stock worth $3,149,000 after purchasing an additional 1,000 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter worth about $2,935,000.

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.