Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) Shares Gap Up – Should You Buy?

Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN – Get Free Report) gapped up prior to trading on Wednesday. The stock had previously closed at $22.74, but opened at $25.01. Direxion Daily FTSE China Bull 3X ETF shares last traded at $25.4970, with a volume of 1,849,552 shares trading hands.

Direxion Daily FTSE China Bull 3X ETF Trading Down 0.9%

The business has a 50-day moving average price of $25.26 and a 200 day moving average price of $31.28. The stock has a market capitalization of $653.92 million, a P/E ratio of 8.49 and a beta of 0.97.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Group One Trading LLC bought a new position in Direxion Daily FTSE China Bull 3X ETF during the first quarter valued at $1,266,000. IMC Chicago LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X ETF during the first quarter valued at $560,000. SBI Securities Co. Ltd. raised its holdings in shares of Direxion Daily FTSE China Bull 3X ETF by 28.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 7,595 shares of the exchange traded fund’s stock valued at $189,000 after purchasing an additional 1,705 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Direxion Daily FTSE China Bull 3X ETF by 25.2% during the third quarter. Parallel Advisors LLC now owns 7,100 shares of the exchange traded fund’s stock worth $177,000 after buying an additional 1,430 shares during the period.

Direxion Daily FTSE China Bull 3X ETF Company Profile

(Get Free Report)

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.

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