Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Sees Large Volume Increase – Still a Buy?

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) saw unusually-strong trading volume on Thursday . Approximately 7,013,872 shares changed hands during trading, a decline of 2% from the previous session’s volume of 7,151,859 shares.The stock last traded at $37.65 and had previously closed at $33.16.

Direxion Daily FTSE China Bull 3X Shares Stock Up 16.1 %

The business has a 50-day simple moving average of $31.85 and a 200-day simple moving average of $26.71. The company has a market cap of $1.72 billion, a PE ratio of 4.13 and a beta of 2.93.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

Institutional investors have recently modified their holdings of the stock. Covestor Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter worth approximately $33,000. Chilton Capital Management LLC acquired a new stake in Direxion Daily FTSE China Bull 3X Shares during the 1st quarter worth $56,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Direxion Daily FTSE China Bull 3X Shares during the second quarter worth $277,000. Quadrature Capital Ltd acquired a new stake in shares of Direxion Daily FTSE China Bull 3X Shares in the first quarter valued at about $281,000. Finally, Gateway Advisory LLC grew its stake in 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 acquiring an additional 3,000 shares in the last quarter.

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.