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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped up prior to trading on Wednesday . The stock had previously closed at $25.78, but opened at $27.85. Direxion Daily FTSE China Bull 3X Shares shares last traded at $27.98, with a volume of 2,609,689 shares.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a market capitalization of $1.24 billion, a PE ratio of 4.13 and a beta of 2.93. The company has a 50-day moving average price of $34.03 and a 200-day moving average price of $27.20.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Covestor Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the third quarter worth about $88,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter worth about $277,000. Quadrature Capital Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter worth approximately $281,000. Gateway Advisory LLC grew its holdings in Direxion Daily FTSE China Bull 3X Shares by 20.0% in the second quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after purchasing an additional 3,000 shares during the period. Finally, Strategic Wealth Investment Group LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the third quarter worth approximately $860,000.

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.