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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price 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 changing hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The stock has a 50-day moving average price of $40.38 and a 200-day moving average price of $45.53. The firm has a market capitalization of $641.16 million, a PE ratio of 8.49 and a beta of 0.93.

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

A number of institutional investors have recently made changes to their positions in YINN. Parallel Advisors LLC grew its position in shares of Direxion Daily FTSE China Bull 3X Shares by 6.0% during the third 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 in the last quarter. Bank of America Corp DE grew its holdings in Direxion Daily FTSE China Bull 3X Shares by 34.4% during the 2nd 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 in the last quarter. Ping Capital Management Inc. increased its position 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 purchasing an additional 1,000 shares during the last quarter. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth about $43,000. Finally, Flow Traders U.S. LLC raised its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 5.7% in the 3rd quarter. Flow Traders U.S. LLC now owns 21,349 shares of the exchange traded fund’s stock valued at $1,159,000 after purchasing an additional 1,152 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.