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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down prior to trading on Thursday . The stock had previously closed at $27.94, but opened at $26.83. Direxion Daily FTSE China Bull 3X Shares shares last traded at $26.69, with a volume of 2,148,835 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Trading Down 3.3 %

The company’s 50-day moving average price is $30.01 and its two-hundred day moving average price is $27.54. The company has a market cap of $1.21 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 modified their holdings of the stock. Barclays PLC raised 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 valued at $902,000 after acquiring an additional 1,400 shares during the period. Covestor Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $88,000. Gateway Advisory LLC raised its stake in Direxion Daily FTSE China Bull 3X Shares by 20.0% during the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after purchasing 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 in the third quarter worth $860,000. Finally, Flow Traders U.S. LLC grew 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 valued at $1,846,000 after buying an additional 28,404 shares in the last quarter.

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.