Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Up 6.7% – Still a Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) were up 6.7% during trading on Wednesday . The stock traded as high as $27.76 and last traded at $27.69. 1,153,022 shares were traded during trading, a decline of 49% from the average session volume of 2,259,364 shares. The stock had previously closed at $25.96.

Direxion Daily FTSE China Bull 3X Shares Trading Up 4.6%

The stock’s 50 day moving average price is $28.68 and its two-hundred day moving average price is $35.59. The firm has a market capitalization of $640.47 million, a price-to-earnings ratio of 8.49 and a beta of 1.04.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in YINN. Quadrature Capital Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the 4th quarter valued at approximately $8,411,000. JPMorgan Chase & Co. purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the 2nd quarter valued at approximately $4,128,000. Jump Financial LLC purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the 3rd quarter valued at approximately $4,255,000. Virtu Financial LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the third quarter worth $2,935,000. Finally, Group One Trading LLC acquired a new position in Direxion Daily FTSE China Bull 3X Shares during the first quarter worth $1,266,000.

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.