Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Down – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down before the market opened on Wednesday . The stock had previously closed at $40.76, but opened at $36.90. Direxion Daily FTSE China Bull 3X Shares shares last traded at $38.97, with a volume of 16,093,416 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The firm has a market cap of $1.76 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93. The business’s 50 day moving average price is $26.06 and its 200-day moving average price is $24.43.

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

Several large investors have recently added to or reduced their stakes in the company. HCEP Management Ltd lifted its holdings in Direxion Daily FTSE China Bull 3X Shares by 20.0% in the fourth quarter. HCEP Management Ltd now owns 600,000 shares of the exchange traded fund’s stock worth $12,564,000 after acquiring an additional 100,000 shares during the last quarter. Virtu Financial LLC bought a new position in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth $2,282,000. Sanders Morris Harris LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the first quarter worth $1,073,000. Viewpoint Capital Management LLC boosted its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 218.0% during the first quarter. Viewpoint Capital Management LLC now owns 21,560 shares of the exchange traded fund’s stock valued at $424,000 after acquiring an additional 14,780 shares during the period. Finally, Chilton Capital Management LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth about $56,000.

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.