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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped up before the market opened 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 Trading Up 2.7 %

The company has a market cap of $1.21 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93. The company’s 50 day moving average price is $29.86 and its 200 day moving average price is $27.53.

Hedge Funds Weigh In On Direxion Daily FTSE China Bull 3X Shares

Institutional investors and hedge funds have recently made changes to their positions in the stock. Gateway Advisory LLC grew its holdings in shares of 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 worth $402,000 after acquiring an additional 3,000 shares during the period. Strategic Wealth Investment Group LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at $860,000. Covestor Ltd purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at $88,000. Flow Traders U.S. LLC raised its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% during the 3rd quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock worth $1,846,000 after buying an additional 28,404 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% in the 3rd quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock worth $902,000 after buying an additional 1,400 shares in the last quarter.

About Direxion Daily FTSE China Bull 3X Shares

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.