Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Stock Price Down 6.5% – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) were down 6.5% during mid-day trading on Friday . The stock traded as low as $43.88 and last traded at $43.95. Approximately 2,019,361 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 6,963,434 shares. The stock had previously closed at $47.02.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 10.86 and a beta of 1.10. The firm has a 50 day moving average price of $37.35 and a 200-day moving average price of $32.86.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Hedge funds and other institutional investors have recently bought and sold shares of the business. 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 worth $1,846,000 after purchasing an additional 28,404 shares during the last quarter. Barclays PLC grew 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 buying an additional 1,400 shares during the last quarter. TB Alternative Assets Ltd. purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at approximately $19,162,000. Signature Resources Capital Management LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at approximately $65,000. Finally, IMC Chicago LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at approximately $15,845,000.

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.