Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading 6.7% Higher – Here’s Why

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) rose 6.7% on Wednesday . The company traded as high as $27.76 and last traded at $27.69. Approximately 1,153,022 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 2,259,364 shares. The stock had previously closed at $25.96.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The firm has a market capitalization of $640.47 million, a PE ratio of 8.49 and a beta of 1.04. The firm’s 50-day moving average is $28.68 and its 200 day moving average is $35.59.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Institutional investors and hedge funds have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at approximately $43,000. Bank of America Corp DE raised its position 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 worth $128,000 after purchasing an additional 800 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at approximately $223,000. Parallel Advisors LLC lifted its stake in Direxion Daily FTSE China Bull 3X Shares by 6.0% in the 3rd quarter. Parallel Advisors LLC now owns 5,300 shares of the exchange traded fund’s stock valued at $288,000 after buying an additional 300 shares in the last quarter. Finally, Corient Private Wealth LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter valued at $299,000.

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.