Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Gap Up – Still a Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped up prior to trading on Monday . The stock had previously closed at $26.79, but opened at $28.95. Direxion Daily FTSE China Bull 3X Shares shares last traded at $28.99, with a volume of 611,957 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The company has a market cap of $688.50 million, a PE ratio of 8.49 and a beta of 1.04. The stock’s 50-day simple moving average is $28.14 and its 200 day simple moving average is $35.23.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at about $8,411,000. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter valued at approximately $4,128,000. Jump Financial LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $4,255,000. Virtu Financial LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $2,935,000. Finally, Group One Trading LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 1st quarter worth approximately $1,266,000.

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.