Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading Up 9.5% – Should You Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price traded up 9.5% during trading on Monday . The company traded as high as $50.23 and last traded at $50.1730. 2,915,267 shares traded hands during trading, an increase of 22% from the average session volume of 2,394,685 shares. The stock had previously closed at $45.81.

Direxion Daily FTSE China Bull 3X Shares Stock Up 9.9%

The firm’s fifty day moving average is $45.75 and its two-hundred day moving average is $46.78. The firm has a market cap of $1.05 billion, a P/E ratio of 8.49 and a beta of 0.93.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Hedge funds have recently modified their holdings of the business. Sovereign Financial Group Inc. boosted its stake in Direxion Daily FTSE China Bull 3X Shares by 30.0% during the second quarter. Sovereign Financial Group Inc. now owns 10,067 shares of the exchange traded fund’s stock worth $413,000 after acquiring an additional 2,322 shares in the last quarter. Kingswood Wealth Advisors LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the second quarter valued at approximately $283,000. SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 168.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 17,958 shares of the exchange traded fund’s stock worth $736,000 after purchasing an additional 11,269 shares in the last quarter. Ping Capital Management Inc. grew its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 1,040.0% in the 2nd quarter. Ping Capital Management Inc. now owns 57,000 shares of the exchange traded fund’s stock worth $2,336,000 after buying an additional 52,000 shares during the last quarter. Finally, Wedmont Private Capital bought a new position in Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter valued at approximately $206,000.

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.