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

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped down prior to trading on Thursday . The stock had previously closed at $37.92, but opened at $35.77. Direxion Daily FTSE China Bull 3X Shares shares last traded at $36.67, with a volume of 3,423,169 shares traded.

Direxion Daily FTSE China Bull 3X Shares Trading Down 2.4 %

The firm has a 50-day moving average of $29.24 and a 200-day moving average of $28.77. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

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

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth approximately $40,000. Signature Resources Capital Management LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at $65,000. Covestor Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at $88,000. Virtu Financial LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth $422,000. Finally, SBI Securities Co. Ltd. acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth $459,000.

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.