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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s stock price gapped up prior to trading 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 traded.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The business has a fifty day moving average price of $30.62 and a 200 day moving average price of $27.36. The company has a market capitalization of $1.33 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Barclays PLC boosted its stake in 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 buying an additional 1,400 shares in the last quarter. Flow Traders U.S. LLC raised its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% in 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 purchasing an additional 28,404 shares in the last quarter. Covestor Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter worth approximately $88,000. Strategic Wealth Investment Group LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the third quarter valued at approximately $860,000. Finally, Gateway Advisory LLC lifted its stake in Direxion Daily FTSE China Bull 3X Shares by 20.0% during the second 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.

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.