Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading Up 8.7% – Time to Buy?

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) traded up 8.7% on Friday . The stock traded as high as $51.95 and last traded at $50.80. 6,714,250 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 5,853,451 shares. The stock had previously closed at $46.74.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The business’s 50-day moving average price is $24.90 and its 200-day moving average price is $23.96. The firm has a market capitalization of $2.32 billion, a PE ratio of 4.13 and a beta of 2.93.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at about $2,282,000. HCEP Management Ltd raised its stake in Direxion Daily FTSE China Bull 3X Shares by 20.0% during the 4th quarter. HCEP Management Ltd now owns 600,000 shares of the exchange traded fund’s stock valued at $12,564,000 after acquiring an additional 100,000 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth approximately $1,073,000. Viewpoint Capital Management LLC grew its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 218.0% in the 1st quarter. Viewpoint Capital Management LLC now owns 21,560 shares of the exchange traded fund’s stock valued at $424,000 after purchasing an additional 14,780 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at approximately $281,000.

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.