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 before the market opened on Wednesday . The stock had previously closed at $34.68, but opened at $35.68. Direxion Daily FTSE China Bull 3X Shares shares last traded at $35.20, with a volume of 3,172,695 shares traded.

Direxion Daily FTSE China Bull 3X Shares Stock Down 0.6 %

The business’s fifty day moving average is $29.20 and its 200 day moving average is $25.60. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

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

Several hedge funds and other institutional investors have recently made changes to their positions in YINN. Covestor Ltd bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 1st quarter worth approximately $33,000. Chilton Capital Management LLC bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter valued at $56,000. Gateway Advisory LLC raised its holdings in 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 buying an additional 3,000 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter valued at $277,000. Finally, Quadrature Capital Ltd bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter valued at $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.