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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down prior to trading on Friday . The stock had previously closed at $42.16, but opened at $40.05. Direxion Daily FTSE China Bull 3X Shares shares last traded at $41.0690, with a volume of 434,284 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The company has a market capitalization of $867.40 million, a price-to-earnings ratio of 8.49 and a beta of 0.93. The firm has a 50-day simple moving average of $44.78 and a two-hundred day simple moving average of $47.14.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quadrature Capital Ltd acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at approximately $8,411,000. JPMorgan Chase & Co. acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter worth about $4,128,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth about $4,255,000. Ping Capital Management Inc. boosted its holdings in Direxion Daily FTSE China Bull 3X Shares by 1.8% in the third quarter. Ping Capital Management Inc. now owns 58,000 shares of the exchange traded fund’s stock valued at $3,149,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the third quarter worth approximately $2,935,000.

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.