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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $34.57, but opened at $32.54. Direxion Daily FTSE China Bull 3X Shares shares last traded at $32.56, with a volume of 1,619,373 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Trading Down 5.9%

The company has a market capitalization of $676.09 million, a PE ratio of 8.49 and a beta of 0.93. The stock’s fifty day moving average is $43.99 and its two-hundred day moving average is $46.83.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth approximately $43,000. Bank of America Corp DE grew its holdings in Direxion Daily FTSE China Bull 3X Shares by 34.4% during 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 purchasing an additional 800 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth $223,000. Parallel Advisors LLC increased its position in Direxion Daily FTSE China Bull 3X Shares by 6.0% in 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 during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at $226,000.

Direxion Daily FTSE China Bull 3X Shares Company Profile

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.