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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped down prior to trading on Monday . The stock had previously closed at $47.72, but opened at $46.14. Direxion Daily FTSE China Bull 3X Shares shares last traded at $46.2530, with a volume of 840,085 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Stock Down 5.0%

The firm has a market capitalization of $946.37 million, a PE ratio of 8.49 and a beta of 0.93. The business’s 50-day moving average price is $45.79 and its 200-day moving average price is $46.61.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

A number of institutional investors have recently modified their holdings of YINN. Bank of America Corp DE increased its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% in the second 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 during the last quarter. Wedmont Private Capital purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at about $206,000. XTX Topco Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at about $226,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter worth about $283,000. Finally, Parallel Advisors LLC raised its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 6.0% during the 3rd quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock worth $288,000 after purchasing an additional 300 shares in the last quarter.

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.