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 prior to trading on Monday . The stock had previously closed at $29.79, but opened at $30.68. Direxion Daily FTSE China Bull 3X Shares shares last traded at $30.18, with a volume of 5,116,501 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The firm’s fifty day simple moving average is $27.91 and its 200 day simple moving average is $27.92. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 4.13 and a beta of 2.93.

Hedge Funds Weigh In On Direxion Daily FTSE China Bull 3X Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% in the third quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock worth $902,000 after purchasing an additional 1,400 shares in the last quarter. Signature Resources Capital Management LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at $65,000. Covestor Ltd bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth about $88,000. Strategic Wealth Investment Group LLC acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth about $860,000. Finally, Flow Traders U.S. LLC grew its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% in the 3rd 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 in the last quarter.

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.