Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Stock Price Up 7% – Still a Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price rose 7% on Friday . The company traded as high as $41.54 and last traded at $40.57. Approximately 9,096,922 shares were traded during trading, an increase of 27% from the average daily volume of 7,154,794 shares. The stock had previously closed at $37.92.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The business has a 50-day simple moving average of $29.68 and a two-hundred day simple moving average of $29.03. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at approximately $40,000. Signature Resources Capital Management LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at approximately $65,000. Covestor Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at approximately $88,000. Raffles Associates LP acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at approximately $279,000. Finally, Virtu Financial LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at approximately $422,000.

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.