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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $33.67, but opened at $35.75. Direxion Daily FTSE China Bull 3X Shares shares last traded at $35.61, with a volume of 2,116,170 shares traded.

Direxion Daily FTSE China Bull 3X Shares Trading Down 2.8 %

The company has a 50-day moving average of $28.90 and a 200-day moving average of $28.61. The firm has a market capitalization of $1.58 billion, a P/E ratio of 4.13 and a beta of 2.93.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Signature Resources Capital Management LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter valued at about $65,000. Covestor Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter valued at about $88,000. Virtu Financial LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth approximately $422,000. SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter worth approximately $459,000. Finally, Viewpoint Capital Management LLC boosted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 50.8% in the 4th quarter. Viewpoint Capital Management LLC now owns 20,780 shares of the exchange traded fund’s stock worth $581,000 after buying an additional 7,000 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.