Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Stock Price Down 4.4% – Here’s What Happened

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) fell 4.4% during trading on Wednesday . The company traded as low as $29.83 and last traded at $30.01. 2,911,267 shares were traded during trading, a decline of 60% from the average session 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’s fifty day simple moving average is $33.82 and its 200 day simple moving average is $27.11. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

Institutional Inflows and Outflows

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

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.