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 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 changing hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The stock has a 50-day simple moving average of $34.03 and a 200-day simple moving average of $27.20. The stock has a market cap of $1.24 billion, a PE ratio of 4.13 and a beta of 2.93.

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

Several institutional investors have recently bought and sold shares of YINN. Covestor Ltd purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at $88,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at about $277,000. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth about $281,000. Gateway Advisory LLC boosted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% in the second quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock worth $402,000 after buying an additional 3,000 shares during the period. Finally, Strategic Wealth Investment Group LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at about $860,000.

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.