Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) Sees Unusually-High Trading Volume – Should You Buy?

Direxion Daily FTSE China Bull 3X ETF (NYSEARCA:YINN) shares saw strong trading volume on Thursday. Approximately 2,138,403 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 1,904,752 shares. The stock last traded at $26.3160 and had previously closed at $25.64.

Direxion Daily FTSE China Bull 3X ETF Stock Up 2.1%

The stock’s 50 day simple moving average is $25.33 and its two-hundred day simple moving average is $31.37. The company has a market cap of $655.32 million, a PE ratio of 8.49 and a beta of 0.97.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in YINN. Parallel Advisors LLC increased its stake in Direxion Daily FTSE China Bull 3X ETF by 25.2% during the 3rd quarter. Parallel Advisors LLC now owns 7,100 shares of the exchange traded fund’s stock worth $177,000 after buying an additional 1,430 shares during the period. SBI Securities Co. Ltd. lifted its holdings in Direxion Daily FTSE China Bull 3X ETF by 28.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 7,595 shares of the exchange traded fund’s stock worth $189,000 after buying an additional 1,705 shares in the last quarter. Group One Trading LLC purchased a new position in Direxion Daily FTSE China Bull 3X ETF in the 1st quarter valued at about $1,266,000. Finally, IMC Chicago LLC purchased a new position in Direxion Daily FTSE China Bull 3X ETF in the 1st quarter valued at about $560,000.

Direxion Daily FTSE China Bull 3X ETF 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.