Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading Down 8.1% – Time to Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price dropped 8.1% during mid-day trading on Thursday . The stock traded as low as $31.10 and last traded at $31.17. Approximately 3,351,887 shares changed hands during trading, a decline of 52% from the average daily volume of 6,940,378 shares. The stock had previously closed at $33.91.

Direxion Daily FTSE China Bull 3X Shares Trading Up 12.6 %

The company has a market capitalization of $1.58 billion, a P/E ratio of 4.13 and a beta of 2.93. The business has a 50 day moving average price of $28.67 and a 200 day moving average price of $25.32.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

A number of large investors have recently made changes to their positions in the company. Covestor Ltd acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth approximately $33,000. Chilton Capital Management LLC bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth $56,000. Gateway Advisory LLC raised its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% during the second quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock worth $402,000 after acquiring an additional 3,000 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter valued at $277,000. Finally, Quadrature Capital Ltd bought a new position in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth about $281,000.

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.