Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) Shares Gap Down – Should You Sell?

Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN)’s stock price gapped down prior to trading on Wednesday. The stock had previously closed at $23.63, but opened at $22.81. Direxion Daily FTSE China Bull 3X ETF shares last traded at $22.4350, with a volume of 341,572 shares trading hands.

Direxion Daily FTSE China Bull 3X ETF Stock Performance

The stock has a market cap of $510.53 million, a PE ratio of 8.49 and a beta of 0.98. The stock has a fifty day moving average price of $26.62 and a 200 day moving average price of $28.95.

Institutional Trading of Direxion Daily FTSE China Bull 3X ETF

Institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. boosted its stake in Direxion Daily FTSE China Bull 3X ETF by 28.9% during the third quarter. SBI Securities Co. Ltd. now owns 7,595 shares of the exchange traded fund’s stock worth $189,000 after buying an additional 1,705 shares during the period. IMC Chicago LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X ETF in the first quarter valued at $560,000. Finally, Group One Trading LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X ETF in the first quarter valued at $1,266,000.

About Direxion Daily FTSE China Bull 3X ETF

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.