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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down before the market opened on Friday . The stock had previously closed at $25.31, but opened at $24.09. Direxion Daily FTSE China Bull 3X Shares shares last traded at $23.46, with a volume of 3,539,913 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Trading Down 7.9 %

The firm has a 50-day moving average of $29.07 and a two-hundred day moving average of $27.59. The firm has a market capitalization of $1.04 billion, a PE ratio of 4.13 and a beta of 2.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at about $88,000. Gateway Advisory LLC boosted its holdings 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 worth $402,000 after acquiring an additional 3,000 shares during the period. Strategic Wealth Investment Group LLC bought a new position in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter valued at $860,000. Barclays PLC increased its position in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% in the 3rd 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 last quarter. Finally, Flow Traders U.S. LLC raised its stake 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 purchasing an additional 28,404 shares in the last quarter.

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.