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

Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN)’s share price gapped up before the market opened 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 traded.

Direxion Daily FTSE China Bull 3X ETF Trading Up 12.6%

The company has a market capitalization of $641.40 million, a PE ratio of 8.49 and a beta of 0.97. The firm has a 50 day simple moving average of $25.41 and a two-hundred day simple moving average of $31.48.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X ETF

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

Direxion Daily FTSE China Bull 3X ETF 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.