Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Stock Price Down 6.5% – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price fell 6.5% on Friday . The company traded as low as $43.88 and last traded at $43.95. 2,019,361 shares were traded during trading, a decline of 71% from the average session volume of 6,963,434 shares. The stock had previously closed at $47.02.

Direxion Daily FTSE China Bull 3X Shares Trading Down 4.7 %

The business’s 50-day moving average is $37.35 and its two-hundred day moving average is $32.86. The stock has a market capitalization of $1.70 billion, a PE ratio of 10.86 and a beta of 1.10.

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

Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth $40,000. Signature Resources Capital Management LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at about $65,000. Raffles Associates LP acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at about $279,000. Formidable Asset Management LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at about $279,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at about $284,000.

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.