Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down to $32.85

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped down prior to trading on Wednesday . The stock had previously closed at $32.85, but opened at $29.91. Direxion Daily FTSE China Bull 3X Shares shares last traded at $29.90, with a volume of 2,887,100 shares.

Direxion Daily FTSE China Bull 3X Shares Trading Down 6.7 %

The firm has a fifty day moving average price of $21.71 and a 200 day moving average price of $22.74. The firm has a market cap of $1.37 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

Several institutional investors and hedge funds have recently bought and sold shares of YINN. Covestor Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth about $33,000. Chilton Capital Management LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 1st quarter valued at approximately $56,000. Parallel Advisors LLC lifted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 34.8% during the 4th quarter. Parallel Advisors LLC now owns 6,250 shares of the exchange traded fund’s stock worth $131,000 after purchasing an additional 1,615 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the second quarter worth $277,000. Finally, Quadrature Capital Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at $281,000.

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.