Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Down 7.3% – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares fell 7.3% during mid-day trading on Friday . The stock traded as low as $39.74 and last traded at $40.76. 2,112,176 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 7,555,414 shares. The stock had previously closed at $43.98.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The stock has a market capitalization of $1.86 billion, a PE ratio of 12.60 and a beta of 1.06. The stock’s fifty day moving average is $31.95 and its 200-day moving average is $30.38.

Hedge Funds Weigh In On Direxion Daily FTSE China Bull 3X Shares

Large investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in 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 valued at $902,000 after purchasing an additional 1,400 shares during the period. Bank of Montreal Can acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at $40,000. Signature Resources Capital Management LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth $65,000. Covestor Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the third quarter worth $88,000. Finally, Viewpoint Capital Management LLC lifted its holdings in Direxion Daily FTSE China Bull 3X Shares by 50.8% during the fourth quarter. Viewpoint Capital Management LLC now owns 20,780 shares of the exchange traded fund’s stock valued at $581,000 after purchasing an additional 7,000 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.