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

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down before the market opened on Wednesday . The stock had previously closed at $32.87, but opened at $31.18. Direxion Daily FTSE China Bull 3X Shares shares last traded at $30.90, with a volume of 475,784 shares traded.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The company has a 50 day simple moving average of $33.41 and a 200 day simple moving average of $39.81. The company has a market capitalization of $680.81 million, a PE ratio of 8.49 and a beta of 1.07.

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

Large investors have recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth approximately $43,000. Bank of America Corp DE increased its stake in Direxion Daily FTSE China Bull 3X Shares by 34.4% during the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock worth $128,000 after buying an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth approximately $223,000. Parallel Advisors LLC increased its stake in Direxion Daily FTSE China Bull 3X Shares by 6.0% during the 3rd quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock worth $288,000 after buying an additional 300 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth approximately $299,000.

Direxion Daily FTSE China Bull 3X Shares 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.