Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Stock Price Down 3.1% – Should You Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) were down 3.1% during mid-day trading on Wednesday . The company traded as low as $42.57 and last traded at $42.5310. Approximately 412,245 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 4,216,110 shares. The stock had previously closed at $43.90.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The stock has a market capitalization of $842.46 million, a PE ratio of 8.49 and a beta of 0.93. The business’s fifty day moving average price is $46.42 and its two-hundred day moving average price is $46.38.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its position in Direxion Daily FTSE China Bull 3X Shares by 34.4% in the second 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 last quarter. Wedmont Private Capital acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter valued at approximately $206,000. XTX Topco Ltd purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter valued at $226,000. Kingswood Wealth Advisors LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter valued at $283,000. Finally, Parallel Advisors LLC increased its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 6.0% in the third quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock worth $288,000 after acquiring an additional 300 shares during the period.

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.