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

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) gapped up before the market opened on Monday . The stock had previously closed at $39.38, but opened at $41.24. Direxion Daily FTSE China Bull 3X Shares shares last traded at $41.85, with a volume of 1,071,995 shares traded.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The company’s 50 day simple moving average is $34.69 and its 200 day simple moving average is $34.67. The company has a market capitalization of $1.31 billion, a PE ratio of 8.49 and a beta of 0.97.

Institutional Investors 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. Bank of Montreal Can purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the fourth quarter worth about $40,000. Ping Capital Management Inc. purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth approximately $207,000. Sassicaia Capital Advisers LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at approximately $207,000. Rathbones Group PLC acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at approximately $227,000. Finally, Raffles Associates LP acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter valued at approximately $279,000.

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.