Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Up – What’s Next?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $23.26, but opened at $25.32. Direxion Daily FTSE China Bull 3X Shares shares last traded at $25.37, with a volume of 1,078,183 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The business has a 50-day moving average price of $29.20 and a two-hundred day moving average price of $35.97. The firm has a market cap of $594.70 million, a PE ratio of 8.49 and a beta of 1.04.

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

A number of institutional investors have recently made changes to their positions in YINN. Pilgrim Partners Asia Pte Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at about $43,000. Bank of America Corp DE lifted its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% in the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock valued at $128,000 after purchasing an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth approximately $223,000. Parallel Advisors LLC boosted its position in Direxion Daily FTSE China Bull 3X Shares by 6.0% during the 3rd quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock worth $288,000 after purchasing an additional 300 shares during the period. Finally, Corient Private Wealth LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth about $299,000.

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.