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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $25.78, but opened at $27.85. Direxion Daily FTSE China Bull 3X Shares shares last traded at $27.98, with a volume of 2,609,689 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Stock Up 8.0 %

The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93. The stock has a 50 day moving average price of $34.23 and a 200 day moving average price of $27.21.

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

A number of institutional investors have recently added to or reduced their stakes in the business. Flow Traders U.S. LLC lifted its holdings in shares of 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 during the period. Barclays PLC raised its position in Direxion Daily FTSE China Bull 3X Shares by 6.1% during the 3rd 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 during the last quarter. Strategic Wealth Investment Group LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth about $860,000. Gateway Advisory LLC grew its position 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 valued at $402,000 after buying an additional 3,000 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at about $281,000.

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.