Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading 6.6% Higher – Still a Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price shot up 6.6% during trading on Friday . The stock traded as high as $29.82 and last traded at $29.59. 5,552,456 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 6,114,194 shares. The stock had previously closed at $27.75.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a fifty day simple moving average of $27.84 and a two-hundred day simple moving average of $27.77. The firm has a market capitalization of $1.33 billion, a P/E ratio of 4.13 and a beta of 2.93.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Several hedge funds and other institutional investors have recently modified their holdings of YINN. Strategic Wealth Investment Group LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth about $860,000. Covestor Ltd purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter worth about $88,000. Flow Traders U.S. LLC boosted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% in 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 acquiring an additional 28,404 shares during the period. Barclays PLC grew 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 acquiring an additional 1,400 shares in the last quarter. Finally, TB Alternative Assets Ltd. purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the fourth quarter valued at approximately $19,162,000.

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.