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

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down prior to trading on Wednesday . The stock had previously closed at $32.87, but opened at $31.18. Direxion Daily FTSE China Bull 3X Shares shares last traded at $30.90, with a volume of 475,784 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Trading Down 5.8%

The company has a market cap of $680.81 million, a price-to-earnings ratio of 8.49 and a beta of 1.07. The stock’s fifty day simple moving average is $33.41 and its 200 day simple moving average is $39.81.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

A number of hedge funds have recently bought and sold shares of YINN. Quadrature Capital Ltd acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at about $8,411,000. JPMorgan Chase & Co. acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter valued at about $4,128,000. Jump Financial LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at about $4,255,000. Virtu Financial LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at about $2,935,000. Finally, Group One Trading LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the 1st quarter valued at about $1,266,000.

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.