Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading Up 7% – Still a Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) rose 7% on Friday . The stock traded as high as $41.54 and last traded at $40.57. Approximately 9,096,922 shares traded hands during trading, an increase of 27% from the average daily volume of 7,154,794 shares. The stock had previously closed at $37.92.

Direxion Daily FTSE China Bull 3X Shares Trading Up 7.7 %

The company has a fifty day simple moving average of $29.68 and a two-hundred day simple moving average of $29.03. The company has a market cap of $1.83 billion, a PE ratio of 4.13 and a beta of 2.93.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in YINN. Strategic Wealth Investment Group LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at about $860,000. Covestor Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at about $88,000. Flow Traders U.S. LLC boosted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% in the 3rd quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock valued at $1,846,000 after purchasing an additional 28,404 shares during the period. Barclays PLC boosted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 6.1% in the 3rd quarter. Barclays PLC now owns 24,438 shares of the exchange traded fund’s stock valued at $902,000 after purchasing an additional 1,400 shares during the period. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the 4th quarter valued at about $19,162,000.

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.