Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down to $50.49

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped down before the market opened on Thursday . The stock had previously closed at $50.49, but opened at $45.00. Direxion Daily FTSE China Bull 3X Shares shares last traded at $47.20, with a volume of 7,053,833 shares traded.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a market capitalization of $2.13 billion, a PE ratio of 4.13 and a beta of 2.93. The firm has a fifty day moving average price of $23.75 and a 200 day moving average price of $23.53.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in YINN. Parallel Advisors LLC lifted its stake in Direxion Daily FTSE China Bull 3X Shares by 34.8% in the 4th quarter. Parallel Advisors LLC now owns 6,250 shares of the exchange traded fund’s stock worth $131,000 after acquiring an additional 1,615 shares in the last quarter. Covestor Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 1st quarter valued at about $33,000. Chilton Capital Management LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter worth approximately $56,000. Gateway Advisory LLC lifted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% in the second quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock worth $402,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the second quarter worth approximately $277,000.

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.