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 before the market opened on Thursday . The stock had previously closed at $38.86, but opened at $36.05. Direxion Daily FTSE China Bull 3X Shares shares last traded at $35.49, with a volume of 1,977,186 shares traded.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The stock has a market cap of $791.64 million, a P/E ratio of 8.49 and a beta of 1.07. The firm has a 50-day moving average price of $34.17 and a 200-day moving average price of $41.45.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter valued at $4,128,000. Bank of America Corp DE increased its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% in the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock worth $128,000 after acquiring an additional 800 shares in the last quarter. Ping Capital Management Inc. lifted its position in Direxion Daily FTSE China Bull 3X Shares by 1.8% during the 3rd quarter. Ping Capital Management Inc. now owns 58,000 shares of the exchange traded fund’s stock valued at $3,149,000 after acquiring an additional 1,000 shares during the period. Optiver Holding B.V. purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter valued at about $2,076,000. Finally, Great Hill Capital LLC bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the third quarter worth about $311,000.

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.