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

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down prior to trading on Thursday . The stock had previously closed at $38.86, but opened at $36.05. Direxion Daily FTSE China Bull 3X Shares shares last traded at $35.49, with a volume of 1,977,186 shares traded.

Direxion Daily FTSE China Bull 3X Shares Trading Down 8.3%

The stock has a market capitalization of $721.93 million, a PE ratio of 8.49 and a beta of 1.07. The company’s 50 day simple moving average is $34.17 and its 200 day simple moving average is $41.29.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Several hedge funds and other institutional investors have recently bought and sold shares of YINN. JPMorgan Chase & Co. purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter worth approximately $4,128,000. Bank of America Corp DE grew its stake in Direxion Daily FTSE China Bull 3X Shares by 34.4% in 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 during the period. Ping Capital Management Inc. grew its stake in 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 acquiring an additional 1,000 shares during the period. Optiver Holding B.V. purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter worth approximately $2,076,000. Finally, Great Hill Capital LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter worth approximately $311,000.

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.