Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Stock Price Down 8.1% – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price traded down 8.1% during trading on Thursday . The stock traded as low as $31.10 and last traded at $31.17. 3,351,887 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 6,940,378 shares. The stock had previously closed at $33.91.

Direxion Daily FTSE China Bull 3X Shares Trading Down 7.8 %

The business’s 50 day moving average price is $28.15 and its two-hundred day moving average price is $25.17. The stock has a market cap of $1.40 billion, a P/E ratio of 4.13 and a beta of 2.93.

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

A number of institutional investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 1st quarter worth $281,000. Covestor Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter worth approximately $33,000. Sanders Morris Harris LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter valued at approximately $1,073,000. Gateway Advisory LLC lifted its position in Direxion Daily FTSE China Bull 3X Shares by 20.0% during the second quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after purchasing an additional 3,000 shares during the period. Finally, Viewpoint Capital Management LLC grew its position in Direxion Daily FTSE China Bull 3X Shares by 218.0% in the 1st quarter. Viewpoint Capital Management LLC now owns 21,560 shares of the exchange traded fund’s stock worth $424,000 after purchasing an additional 14,780 shares during the period.

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.