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 prior to trading on Friday . The stock had previously closed at $26.41, but opened at $27.26. Direxion Daily FTSE China Bull 3X Shares shares last traded at $27.27, with a volume of 1,229,990 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93. The firm has a fifty day moving average of $29.74 and a 200 day moving average of $27.56.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its position in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% during the third quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock valued at $902,000 after acquiring an additional 1,400 shares during the last quarter. Covestor Ltd purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $88,000. Gateway Advisory LLC increased its holdings in Direxion Daily FTSE China Bull 3X Shares by 20.0% in the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after purchasing an additional 3,000 shares during the last quarter. Strategic Wealth Investment Group LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at approximately $860,000. Finally, Flow Traders U.S. LLC lifted its stake 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 worth $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.