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 Tuesday . The stock had previously closed at $33.95, but opened at $36.37. Direxion Daily FTSE China Bull 3X Shares shares last traded at $35.98, with a volume of 3,965,354 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Trading Up 6.9 %

The stock has a market cap of $1.62 billion, a P/E ratio of 4.13 and a beta of 2.93. The company has a 50 day simple moving average of $31.35 and a 200 day simple moving average of $26.54.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

A number of large investors have recently added to or reduced their stakes in the company. Strategic Wealth Investment Group LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the third quarter worth approximately $860,000. Quadrature Capital Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares in the 1st quarter valued at $281,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter worth $277,000. Gateway Advisory LLC boosted its holdings in Direxion Daily FTSE China Bull 3X Shares by 20.0% in 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 during the period. Finally, Chilton Capital Management LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth approximately $56,000.

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.