Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Shares Up 6.6% – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN)’s share price shot up 6.6% during mid-day trading on Friday . The stock traded as high as $29.82 and last traded at $29.59. 5,552,456 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 6,114,194 shares. The stock had previously closed at $27.75.

Direxion Daily FTSE China Bull 3X Shares Trading Up 7.4 %

The firm has a market capitalization of $1.33 billion, a P/E ratio of 4.13 and a beta of 2.93. The business’s 50 day simple moving average is $27.88 and its two-hundred day simple moving average is $27.82.

Institutional Trading of Direxion Daily FTSE China Bull 3X Shares

A number of institutional investors have recently made changes to their positions in the stock. TB Alternative Assets Ltd. purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the fourth quarter worth approximately $19,162,000. Flow Traders U.S. LLC boosted its holdings in shares of Direxion Daily FTSE China Bull 3X Shares by 131.6% in the third quarter. Flow Traders U.S. LLC now owns 49,987 shares of the exchange traded fund’s stock worth $1,846,000 after buying an additional 28,404 shares during the last quarter. Strategic Wealth Investment Group LLC purchased a new position in shares of Direxion Daily FTSE China Bull 3X Shares in the third quarter worth approximately $860,000. Covestor Ltd bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the 3rd quarter worth approximately $88,000. Finally, Signature Resources Capital Management LLC bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the 4th quarter worth approximately $65,000.

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.