Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) Trading 4.4% Higher – Here’s Why

Direxion Daily FTSE China Bull 3X Shares (NYSEARCA:YINN) shares traded up 4.4% during trading on Thursday . The company traded as high as $40.84 and last traded at $40.49. 16,359,990 shares changed hands during mid-day trading, an increase of 148% from the average session volume of 6,587,735 shares. The stock had previously closed at $38.79.

Direxion Daily FTSE China Bull 3X Shares Price Performance

The firm’s 50 day moving average price is $27.22 and its 200-day moving average price is $24.79. The stock has a market cap of $1.82 billion, a P/E ratio of 4.13 and a beta of 2.93.

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

A number of large investors have recently made changes to their positions in YINN. Covestor Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the first quarter valued at $33,000. Chilton Capital Management LLC purchased a new stake in Direxion Daily FTSE China Bull 3X Shares in the 1st quarter worth approximately $56,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Direxion Daily FTSE China Bull 3X Shares during the 2nd quarter worth approximately $277,000. Quadrature Capital Ltd purchased a new position in Direxion Daily FTSE China Bull 3X Shares during the first quarter valued at approximately $281,000. Finally, Gateway Advisory LLC boosted its position in shares of Direxion Daily FTSE China Bull 3X Shares by 20.0% in the second quarter. Gateway Advisory LLC now owns 18,000 shares of the exchange traded fund’s stock worth $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.