Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Hits New 12-Month Low – Should You Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $24.01 and last traded at $24.01, with a volume of 211255 shares changing hands. The stock had previously closed at $25.84.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The stock’s 50-day moving average price is $32.00 and its 200-day moving average price is $37.62. The company has a market capitalization of $510.17 million, a price-to-earnings ratio of 8.49 and a beta of 1.00.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth $43,000. Bank of America Corp DE increased its position 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 valued at $128,000 after buying an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at $223,000. 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 buying an additional 300 shares during the last quarter. Finally, Corient Private Wealth LLC acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth $299,000.

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.