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

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 $27.30, but opened at $26.13. Direxion Daily FTSE China Bull 3X ETF shares last traded at $25.9940, with a volume of 494,392 shares changing hands.

Direxion Daily FTSE China Bull 3X ETF Trading Down 5.4%

The company’s 50 day moving average is $29.00 and its 200-day moving average is $30.31. The stock has a market cap of $578.22 million, a PE ratio of 8.49 and a beta of 1.01.

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

An institutional investor recently bought a new stake in Direxion Daily FTSE China Bull 3X ETF stock. Group One Trading LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 38,575 shares of the exchange traded fund’s stock, valued at approximately $1,266,000. Group One Trading LLC owned approximately 0.18% of Direxion Daily FTSE China Bull 3X ETF at the end of the most recent quarter.

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.