Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – Should You Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $38.22, but opened at $35.27. Direxion Daily FTSE China Bull 3X Shares shares last traded at $34.89, with a volume of 8,963,865 shares traded.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The stock has a 50-day simple moving average of $28.15 and a 200 day simple moving average of $25.17. The stock has a market capitalization of $1.52 billion, a P/E ratio of 4.13 and a beta of 2.93.

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

Several hedge funds have recently added to or reduced their stakes in YINN. Sanders Morris Harris LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter valued at about $1,073,000. Viewpoint Capital Management LLC lifted its position in Direxion Daily FTSE China Bull 3X Shares by 218.0% during the 1st quarter. Viewpoint Capital Management LLC now owns 21,560 shares of the exchange traded fund’s stock valued at $424,000 after purchasing an additional 14,780 shares during the period. Gateway Advisory LLC lifted its position in Direxion Daily FTSE China Bull 3X Shares by 20.0% during the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after purchasing an additional 3,000 shares during the period. Quadrature Capital Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter valued at about $281,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter valued at about $277,000.

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.