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 prior to trading on Thursday . The stock had previously closed at $37.92, but opened at $35.77. Direxion Daily FTSE China Bull 3X Shares shares last traded at $36.67, with a volume of 3,423,169 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The company has a market cap of $1.65 billion, a PE ratio of 4.13 and a beta of 2.93. The business’s 50 day moving average is $29.24 and its 200-day moving average is $28.77.

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

Several large investors have recently bought and sold shares of the business. Strategic Wealth Investment Group LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at approximately $860,000. Covestor Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at $88,000. Flow Traders U.S. LLC grew its position in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% in the 3rd quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock valued at $1,846,000 after buying an additional 28,404 shares during the last quarter. Barclays PLC raised its stake in Direxion Daily FTSE China Bull 3X Shares by 6.1% during the 3rd quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock worth $902,000 after acquiring an additional 1,400 shares in the last quarter. Finally, TB Alternative Assets Ltd. purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at $19,162,000.

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.