Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – What’s Next?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $48.90, but opened at $47.53. Direxion Daily FTSE China Bull 3X Shares shares last traded at $47.9290, with a volume of 986,208 shares.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The company has a market cap of $988.88 million, a PE ratio of 8.49 and a beta of 0.93. The company has a 50 day simple moving average of $45.80 and a two-hundred day simple moving average of $46.83.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Wedmont Private Capital acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the second quarter worth $206,000. Ping Capital Management Inc. grew its stake in Direxion Daily FTSE China Bull 3X Shares by 1,040.0% in the second quarter. Ping Capital Management Inc. now owns 57,000 shares of the exchange traded fund’s stock valued at $2,336,000 after purchasing an additional 52,000 shares in the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter worth about $283,000. Sovereign Financial Group Inc. raised its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 30.0% during the 2nd quarter. Sovereign Financial Group Inc. now owns 10,067 shares of the exchange traded fund’s stock worth $413,000 after purchasing an additional 2,322 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 168.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 17,958 shares of the exchange traded fund’s stock valued at $736,000 after buying an additional 11,269 shares during 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.