Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Up 7.7% – Should You Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price were up 7.7% during mid-day trading on Friday . The stock traded as high as $34.99 and last traded at $34.71. Approximately 4,708,460 shares traded hands during trading, a decline of 28% from the average daily volume of 6,509,709 shares. The stock had previously closed at $32.22.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The company has a market capitalization of $1.50 billion, a PE ratio of 4.13 and a beta of 2.93. The company’s 50-day simple moving average is $28.62 and its 200-day simple moving average is $28.33.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Several hedge funds have recently made changes to their positions in YINN. Signature Resources Capital Management LLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at about $65,000. Covestor Ltd acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the third quarter worth about $88,000. SBI Securities Co. Ltd. acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth about $459,000. Viewpoint Capital Management LLC raised 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 worth $581,000 after acquiring an additional 7,000 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the third quarter worth about $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.