Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Up 12.3% – Still a Buy?

Shares of Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shot up 12.3% on Friday . The stock traded as high as $36.22 and last traded at $35.26. 10,310,616 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 7,013,801 shares. The stock had previously closed at $31.41.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The stock has a market cap of $1.58 billion, a PE ratio of 4.13 and a beta of 2.93. The company has a 50 day moving average price of $28.67 and a two-hundred day moving average price of $25.35.

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

A number of hedge funds have recently bought and sold shares of the business. Covestor Ltd bought a new position in shares of Direxion Daily FTSE China Bull 3X Shares during the 1st quarter valued at $33,000. Chilton Capital Management LLC bought a new position in Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at about $56,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the second quarter worth about $277,000. Quadrature Capital Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares in the first quarter worth about $281,000. Finally, Gateway Advisory LLC grew its stake 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.

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.