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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped up before the market opened on Tuesday . The stock had previously closed at $30.74, but opened at $32.49. Direxion Daily FTSE China Bull 3X Shares shares last traded at $32.73, with a volume of 2,012,638 shares.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The company has a fifty day simple moving average of $28.46 and a two-hundred day simple moving average of $28.28. The firm has a market capitalization of $1.40 billion, a PE ratio of 4.13 and a beta of 2.93.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

Several hedge funds have recently modified their holdings of YINN. Signature Resources Capital Management LLC bought a new position in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth about $65,000. Covestor Ltd purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter worth approximately $88,000. SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth approximately $459,000. Viewpoint Capital Management LLC lifted its position in Direxion Daily FTSE China Bull 3X Shares by 50.8% during the fourth quarter. Viewpoint Capital Management LLC now owns 20,780 shares of the exchange traded fund’s stock valued at $581,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the third quarter valued at approximately $860,000.

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.