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

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares gapped up prior to trading on Friday . The stock had previously closed at $45.33, but opened at $47.27. Direxion Daily FTSE China Bull 3X Shares shares last traded at $47.51, with a volume of 336,747 shares changing hands.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The company’s 50-day moving average price is $49.07 and its 200-day moving average price is $45.59. The company has a market cap of $938.05 million, a P/E ratio of 8.49 and a beta of 0.93.

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

A number of institutional investors have recently added to or reduced their stakes in YINN. Bank of America Corp DE grew its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% during the 2nd quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock valued at $128,000 after purchasing an additional 800 shares during the last quarter. Sassicaia Capital Advisers LLC bought a new position in Direxion Daily FTSE China Bull 3X Shares in the 1st quarter valued at approximately $207,000. Wedmont Private Capital acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the second quarter valued at approximately $206,000. Parallel Advisors LLC grew its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 6.0% during the third quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock worth $288,000 after buying an additional 300 shares during the last quarter. Finally, Rathbones Group PLC bought a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the first quarter worth $227,000.

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.