Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Down 13.8% – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price traded down 13.8% during mid-day trading on Friday . The company traded as low as $33.09 and last traded at $33.20. 6,651,982 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 7,198,285 shares. The stock had previously closed at $38.53.

Direxion Daily FTSE China Bull 3X Shares Trading Down 16.6 %

The firm’s fifty day moving average price is $32.36 and its 200 day moving average price is $26.88. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Several hedge funds have recently made changes to their positions in YINN. Strategic Wealth Investment Group LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at $860,000. Quadrature Capital Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at $281,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the second quarter worth approximately $277,000. Gateway Advisory LLC lifted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% in the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock worth $402,000 after acquiring an additional 3,000 shares during the period. Finally, Chilton Capital Management LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 1st quarter valued at approximately $56,000.

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.