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

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down prior to trading on Wednesday . The stock had previously closed at $32.79, but opened at $31.53. Direxion Daily FTSE China Bull 3X Shares shares last traded at $31.57, with a volume of 605,470 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Trading Up 10.3 %

The firm has a 50 day moving average price of $28.53 and a 200-day moving average price of $28.30. The firm has a market cap of $1.54 billion, a PE ratio of 4.13 and a beta of 2.93.

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

Institutional investors have recently modified their holdings of the company. Signature Resources Capital Management LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth about $65,000. Covestor Ltd purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $88,000. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at about $459,000. Viewpoint Capital Management LLC lifted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 50.8% in the 4th quarter. Viewpoint Capital Management LLC now owns 20,780 shares of the exchange traded fund’s stock worth $581,000 after acquiring an additional 7,000 shares during the period. Finally, Strategic Wealth Investment Group LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at about $860,000.

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.