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 before the market opened on Wednesday . The stock had previously closed at $34.61, but opened at $32.59. Direxion Daily FTSE China Bull 3X Shares shares last traded at $32.85, with a volume of 3,083,722 shares.

Direxion Daily FTSE China Bull 3X Shares Trading Down 3.4 %

The firm’s fifty day moving average price is $30.46 and its 200-day moving average price is $26.11. The firm has a market cap of $1.50 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

A number of hedge funds have recently modified their holdings of the business. Covestor Ltd purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth about $33,000. Chilton Capital Management LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth approximately $56,000. Gateway Advisory LLC lifted its position in 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 acquiring an additional 3,000 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at approximately $277,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth approximately $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.