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 stock price gapped down prior to trading on Tuesday . The stock had previously closed at $31.90, but opened at $29.09. Direxion Daily FTSE China Bull 3X Shares shares last traded at $29.17, with a volume of 4,488,586 shares traded.

Direxion Daily FTSE China Bull 3X Shares Stock Down 11.2 %

The business’s 50 day moving average is $32.55 and its 200-day moving average is $27.03. The firm has a market cap of $1.27 billion, a P/E ratio of 4.13 and a beta of 2.93.

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

Hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the second quarter valued at $277,000. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter valued at $281,000. Gateway Advisory LLC boosted 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 valued at $402,000 after acquiring an additional 3,000 shares during the period. Finally, Strategic Wealth Investment Group LLC acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the third quarter valued at $860,000.

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.