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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down prior to trading on Friday . The stock had previously closed at $28.13, but opened at $26.22. Direxion Daily FTSE China Bull 3X Shares shares last traded at $26.09, with a volume of 3,856,873 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The company’s 50 day moving average is $33.86 and its 200 day moving average is $27.21. The stock has a market cap of $1.17 billion, a price-to-earnings 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 and other institutional investors have recently bought and sold shares of YINN. Covestor Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter valued at about $33,000. Quadrature Capital Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at approximately $281,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter worth approximately $277,000. Gateway Advisory LLC raised its position in shares of 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 worth $402,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $860,000.

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.