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 Thursday . The stock had previously closed at $27.94, but opened at $26.83. Direxion Daily FTSE China Bull 3X Shares shares last traded at $26.69, with a volume of 2,148,835 shares traded.

Direxion Daily FTSE China Bull 3X Shares Trading Down 3.3 %

The stock has a market capitalization of $1.21 billion, a P/E ratio of 4.13 and a beta of 2.93. The company’s 50-day moving average is $30.01 and its two-hundred day moving average is $27.54.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gateway Advisory LLC grew its position in Direxion Daily FTSE China Bull 3X Shares by 20.0% in the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after buying an additional 3,000 shares in the last quarter. Strategic Wealth Investment Group LLC bought a new position in shares of 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 during the third quarter valued at approximately $88,000. Flow Traders U.S. LLC raised its holdings in Direxion Daily FTSE China Bull 3X Shares by 131.6% during the third quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock worth $1,846,000 after purchasing an additional 28,404 shares in the last quarter. Finally, Barclays PLC lifted its position in Direxion Daily FTSE China Bull 3X Shares by 6.1% in the third quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock worth $902,000 after purchasing an additional 1,400 shares during the period.

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.