Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Sees Large Volume Increase – Still a Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) saw an uptick in trading volume on Tuesday . 3,524,623 shares were traded during trading, an increase of 62% from the previous session’s volume of 2,176,881 shares.The stock last traded at $33.1820 and had previously closed at $36.61.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm has a 50-day simple moving average of $43.99 and a 200 day simple moving average of $46.83. The company has a market capitalization of $718.71 million, a PE ratio of 8.49 and a beta of 0.93.

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

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pilgrim Partners Asia Pte Ltd acquired a new stake in Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at approximately $43,000. Bank of America Corp DE lifted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% during the second quarter. Bank of America Corp DE now owns 3,128 shares of the exchange traded fund’s stock worth $128,000 after purchasing an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at $223,000. XTX Topco Ltd acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter valued at $226,000. Finally, Parallel Advisors LLC increased its stake in Direxion Daily FTSE China Bull 3X Shares by 6.0% during the 3rd 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 period.

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.