Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading Down 13.8% – What’s Next?

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) were down 13.8% during mid-day trading on Friday . The company traded as low as $33.09 and last traded at $33.20. Approximately 6,651,982 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 7,198,285 shares. The stock had previously closed at $38.53.

Direxion Daily FTSE China Bull 3X Shares Trading Down 17.5 %

The stock has a 50-day simple moving average of $32.17 and a 200 day simple moving average of $26.79. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in YINN. Covestor Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at approximately $88,000. Strategic Wealth Investment Group LLC acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at $860,000. Gateway Advisory LLC boosted its holdings 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 worth $402,000 after buying an additional 3,000 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at $277,000. Finally, Quadrature Capital Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter worth about $281,000.

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.