Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading Down 4.4% – Here’s What Happened

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares traded down 4.4% during trading on Wednesday . The stock traded as low as $29.83 and last traded at $30.01. 2,911,267 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 7,354,313 shares. The stock had previously closed at $31.38.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The firm has a 50 day moving average of $33.82 and a two-hundred day moving average of $27.11. The stock has a market cap of $1.34 billion, a P/E ratio of 4.13 and a beta of 2.93.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Covestor Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at about $88,000. Gateway Advisory LLC lifted its position 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. Strategic Wealth Investment Group LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $860,000. Barclays PLC increased its position 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 valued at $902,000 after purchasing an additional 1,400 shares during the period. Finally, Flow Traders U.S. LLC lifted its position in Direxion Daily FTSE China Bull 3X Shares by 131.6% in 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.