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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $51.48, but opened at $47.20. Direxion Daily FTSE China Bull 3X Shares shares last traded at $48.09, with a volume of 2,518,885 shares.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm’s 50 day moving average is $36.92 and its 200 day moving average is $32.76. The firm has a market cap of $1.79 billion, a P/E ratio of 10.86 and a beta of 1.10.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

Several hedge funds have recently bought and sold shares of YINN. Barclays PLC lifted its stake in shares of 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 buying an additional 1,400 shares in the last quarter. IMC Chicago LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth approximately $15,845,000. Signature Resources Capital Management LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth approximately $65,000. SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth approximately $459,000. Finally, Viewpoint Capital Management LLC lifted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 50.8% in the fourth quarter. Viewpoint Capital Management LLC now owns 20,780 shares of the exchange traded fund’s stock worth $581,000 after buying an additional 7,000 shares in the last quarter.

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.