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

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped up prior to trading on Monday . The stock had previously closed at $26.79, but opened at $28.95. Direxion Daily FTSE China Bull 3X Shares shares last traded at $28.99, with a volume of 611,957 shares trading hands.

Direxion Daily FTSE China Bull 3X Shares Stock Performance

The company has a market capitalization of $688.50 million, a PE ratio of 8.49 and a beta of 1.04. The stock’s fifty day simple moving average is $28.14 and its 200-day simple moving average is $35.23.

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

Several institutional investors and hedge funds have recently modified their holdings of YINN. Parallel Advisors LLC increased its position in 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 purchasing an additional 300 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 34.4% in 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. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at $43,000. Flow Traders U.S. LLC grew its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 5.7% during the 3rd quarter. Flow Traders U.S. LLC now owns 21,349 shares of the exchange traded fund’s stock valued at $1,159,000 after buying an additional 1,152 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in shares of Direxion Daily FTSE China Bull 3X Shares by 58.8% during the 4th quarter. SBI Securities Co. Ltd. now owns 9,022 shares of the exchange traded fund’s stock valued at $384,000 after buying an additional 3,341 shares during the period.

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.