Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Down 4.4% – Time to Sell?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares were down 4.4% on Wednesday . The stock traded as low as $29.83 and last traded at $30.01. Approximately 2,911,267 shares traded hands during trading, a decline of 60% from the average daily volume of 7,354,313 shares. The stock had previously closed at $31.38.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a market capitalization of $1.36 billion, a P/E ratio of 4.13 and a beta of 2.93. The firm has a fifty day simple moving average of $33.22 and a two-hundred day simple moving average of $27.16.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Strategic Wealth Investment Group LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the third quarter worth approximately $860,000. Gateway Advisory LLC lifted its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% in the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock worth $402,000 after acquiring an additional 3,000 shares during the last quarter. Covestor Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter worth approximately $88,000. Flow Traders U.S. LLC boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% in the 3rd quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock valued at $1,846,000 after purchasing an additional 28,404 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% during the 3rd quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock valued at $902,000 after purchasing an additional 1,400 shares during the last quarter.

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.