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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped down before the market opened on Wednesday . The stock had previously closed at $32.79, but opened at $31.53. Direxion Daily FTSE China Bull 3X Shares shares last traded at $31.57, with a volume of 605,470 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The business’s fifty day simple moving average is $28.53 and its 200-day simple moving average is $28.30. The company has a market capitalization of $1.54 billion, a P/E ratio of 4.13 and a beta of 2.93.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth about $65,000. Covestor Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $88,000. SBI Securities Co. Ltd. purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth approximately $459,000. Viewpoint Capital Management LLC boosted its stake in Direxion Daily FTSE China Bull 3X Shares by 50.8% during the fourth quarter. Viewpoint Capital Management LLC now owns 20,780 shares of the exchange traded fund’s stock worth $581,000 after buying an additional 7,000 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at $860,000.

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.