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 Monday . The stock had previously closed at $35.38, but opened at $33.69. Direxion Daily FTSE China Bull 3X Shares shares last traded at $34.10, with a volume of 3,354,712 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a fifty day moving average price of $29.20 and a 200 day moving average price of $25.60. The firm has a market capitalization of $1.55 billion, a PE ratio of 4.13 and a beta of 2.93.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the 1st quarter valued at approximately $33,000. Chilton Capital Management LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at about $56,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter worth approximately $277,000. Quadrature Capital Ltd bought a new position in Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at about $281,000. Finally, Gateway Advisory LLC grew its position in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% during the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock worth $402,000 after buying an additional 3,000 shares during the period.

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.