Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) Shares Up 7.4% – Should You Buy?

Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN)’s share price rose 7.4% during mid-day trading on Friday. The stock traded as high as $25.53 and last traded at $25.3680. 1,020,426 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 1,930,674 shares. The stock had previously closed at $23.63.

Direxion Daily FTSE China Bull 3X ETF Price Performance

The stock has a market cap of $587.70 million, a P/E ratio of 8.49 and a beta of 0.98. The company has a fifty day moving average of $28.01 and a 200 day moving average of $29.48.

Institutional Trading of Direxion Daily FTSE China Bull 3X ETF

A hedge fund recently bought a new position in Direxion Daily FTSE China Bull 3X ETF stock. IMC Chicago LLC bought a new position in shares of Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 17,065 shares of the exchange traded fund’s stock, valued at approximately $560,000. IMC Chicago LLC owned 0.08% of Direxion Daily FTSE China Bull 3X ETF as of its most recent SEC filing.

About Direxion Daily FTSE China Bull 3X ETF

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.