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 before the market opened 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.

Direxion Daily FTSE China Bull 3X Shares Stock Up 2.7 %

The business’s 50-day moving average is $30.86 and its 200-day moving average is $27.30. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

A number of hedge funds have recently modified their holdings of the stock. Covestor Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the third quarter valued at approximately $88,000. Gateway Advisory LLC increased its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% during 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 in the last quarter. Strategic Wealth Investment Group LLC acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at $860,000. Barclays PLC boosted its holdings 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 worth $902,000 after buying an additional 1,400 shares in the last quarter. Finally, Flow Traders U.S. LLC grew its position 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 valued at $1,846,000 after buying an additional 28,404 shares during the period.

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.