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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped up before the market opened on Tuesday . The stock had previously closed at $28.78, but opened at $29.65. Direxion Daily FTSE China Bull 3X Shares shares last traded at $29.65, with a volume of 1,618,171 shares.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93. The business’s 50 day moving average is $30.62 and its 200-day moving average is $27.36.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in YINN. Covestor Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the third quarter valued at about $88,000. Gateway Advisory LLC boosted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% during the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after acquiring an additional 3,000 shares in the last quarter. Strategic Wealth Investment Group LLC bought a new stake in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at about $860,000. Barclays PLC raised its position in Direxion Daily FTSE China Bull 3X Shares by 6.1% in the third quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock worth $902,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Flow Traders U.S. LLC boosted its holdings in Direxion Daily FTSE China Bull 3X Shares by 131.6% during the third quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock valued at $1,846,000 after purchasing an additional 28,404 shares in the last quarter.

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.