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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price gapped down prior to trading on Friday . The stock had previously closed at $25.31, but opened at $24.09. Direxion Daily FTSE China Bull 3X Shares shares last traded at $23.46, with a volume of 3,539,913 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The stock has a market capitalization of $1.03 billion, a P/E ratio of 4.13 and a beta of 2.93. The company’s fifty day simple moving average is $28.87 and its two-hundred day simple moving average is $27.61.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of YINN. Covestor Ltd bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the third quarter worth approximately $88,000. Gateway Advisory LLC increased its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% during 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 during the period. Strategic Wealth Investment Group LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the third quarter worth approximately $860,000. Barclays PLC increased its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% during the third quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock worth $902,000 after purchasing an additional 1,400 shares during the period. Finally, Flow Traders U.S. LLC increased its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% during the third quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock worth $1,846,000 after purchasing an additional 28,404 shares during the period.

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.