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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $45.92, but opened at $44.10. Direxion Daily FTSE China Bull 3X Shares shares last traded at $44.6260, with a volume of 414,462 shares.

Direxion Daily FTSE China Bull 3X Shares Trading Down 3.1%

The stock has a market cap of $881.03 million, a P/E ratio of 8.49 and a beta of 0.93. The stock has a 50 day simple moving average of $49.36 and a 200 day simple moving average of $45.59.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

Several institutional investors and hedge funds have recently bought and sold shares of YINN. Bank of America Corp DE increased its holdings in Direxion Daily FTSE China Bull 3X Shares by 34.4% in the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock valued at $128,000 after buying an additional 800 shares during the period. Wedmont Private Capital acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the second quarter valued at approximately $206,000. Sassicaia Capital Advisers LLC bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the first quarter worth $207,000. XTX Topco Ltd bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter valued at $226,000. Finally, Rathbones Group PLC acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth $227,000.

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.