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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped down prior to trading on Friday . The stock had previously closed at $44.73, but opened at $42.56. Direxion Daily FTSE China Bull 3X Shares shares last traded at $41.41, with a volume of 1,992,125 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The company has a market cap of $1.57 billion, a PE ratio of 10.86 and a beta of 1.10. The stock’s 50-day simple moving average is $39.58 and its 200 day simple moving average is $33.90.

Direxion Daily FTSE China Bull 3X Shares Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a dividend of $0.1149 per share. This is an increase from Direxion Daily FTSE China Bull 3X Shares’s previous dividend of $0.03. The ex-dividend date is Tuesday, March 25th.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

Several institutional investors have recently modified their holdings of YINN. Bank of Montreal Can purchased a new stake in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth about $40,000. Signature Resources Capital Management LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth approximately $65,000. Raffles Associates LP purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth approximately $279,000. Formidable Asset Management LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at $279,000. Finally, Cantor Fitzgerald L. P. purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth $284,000.

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.