Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Sees Strong Trading Volume – Time to Buy?

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) saw strong trading volume on Monday . 2,468,917 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 3,821,303 shares.The stock last traded at $27.97 and had previously closed at $27.57.

Direxion Daily FTSE China Bull 3X Shares Stock Down 1.4 %

The company has a market cap of $1.13 billion, a PE ratio of 4.13 and a beta of 2.93. The business’s fifty day moving average is $29.39 and its 200-day moving average is $27.63.

Institutional Investors Weigh In On Direxion Daily FTSE China Bull 3X Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Flow Traders U.S. LLC increased its holdings in 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 worth $1,846,000 after acquiring an additional 28,404 shares in the last quarter. Strategic Wealth Investment Group LLC purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter worth $860,000. Gateway Advisory LLC raised its position in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% during the 2nd quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock valued at $402,000 after purchasing an additional 3,000 shares during the period. Covestor Ltd purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter valued at $88,000. Finally, Barclays PLC boosted its holdings in 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 worth $902,000 after buying an additional 1,400 shares during the period.

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.