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

Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN)’s share price gapped up prior to trading on Wednesday. The stock had previously closed at $22.74, but opened at $25.01. Direxion Daily FTSE China Bull 3X ETF shares last traded at $25.4970, with a volume of 1,849,552 shares changing hands.

Direxion Daily FTSE China Bull 3X ETF Stock Performance

The firm’s 50-day moving average is $25.41 and its 200 day moving average is $31.48. The stock has a market cap of $641.40 million, a PE ratio of 8.49 and a beta of 0.97.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Group One Trading LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X ETF in the first quarter valued at about $1,266,000. IMC Chicago LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X ETF during the first quarter worth about $560,000. SBI Securities Co. Ltd. grew its holdings in shares of Direxion Daily FTSE China Bull 3X ETF by 28.9% during the third quarter. SBI Securities Co. Ltd. now owns 7,595 shares of the exchange traded fund’s stock worth $189,000 after buying an additional 1,705 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Direxion Daily FTSE China Bull 3X ETF by 25.2% during the third quarter. Parallel Advisors LLC now owns 7,100 shares of the exchange traded fund’s stock worth $177,000 after buying an additional 1,430 shares during the last quarter.

Direxion Daily FTSE China Bull 3X ETF 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.