Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – Time to Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down prior to trading on Thursday . The stock had previously closed at $33.30, but opened at $30.85. Direxion Daily FTSE China Bull 3X Shares shares last traded at $31.16, with a volume of 1,091,757 shares traded.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The company has a fifty day moving average price of $40.38 and a 200 day moving average price of $45.53. The company has a market capitalization of $641.16 million, a P/E ratio of 8.49 and a beta of 0.93.

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

Several large investors have recently added to or reduced their stakes in the stock. Optiver Holding B.V. bought a new stake in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at $2,076,000. Great Hill Capital LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the third quarter worth about $311,000. Ping Capital Management Inc. increased its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 1.8% in the 3rd quarter. Ping Capital Management Inc. now owns 58,000 shares of the exchange traded fund’s stock worth $3,149,000 after acquiring an additional 1,000 shares during the period. Flow Traders U.S. LLC increased its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 76.1% in the 2nd quarter. Flow Traders U.S. LLC now owns 20,197 shares of the exchange traded fund’s stock worth $828,000 after acquiring an additional 8,725 shares during the period. Finally, XTX Topco Ltd bought a new stake in Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter valued at about $226,000.

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.