Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) Shares Gap Down – Should You Sell?

Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) gapped down before the market opened on Friday. The stock had previously closed at $24.78, but opened at $23.34. Direxion Daily FTSE China Bull 3X ETF shares last traded at $23.3640, with a volume of 949,012 shares trading hands.

Direxion Daily FTSE China Bull 3X ETF Stock Down 7.4%

The firm has a market cap of $528.79 million, a price-to-earnings ratio of 8.49 and a beta of 1.01. The company has a 50-day moving average price of $28.65 and a 200 day moving average price of $29.85.

Hedge Funds Weigh In On Direxion Daily FTSE China Bull 3X ETF

An institutional investor recently bought a new stake in Direxion Daily FTSE China Bull 3X ETF stock. Group One Trading LLC purchased a new stake in Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 38,575 shares of the exchange traded fund’s stock, valued at approximately $1,266,000. Group One Trading LLC owned approximately 0.18% of Direxion Daily FTSE China Bull 3X ETF as of its most recent filing with the SEC.

Direxion Daily FTSE China Bull 3X ETF 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.