Yintech Investment Holdings Ltd – (NASDAQ:YIN) shares rose 12.3% during mid-day trading on Monday . The stock traded as high as $6.79 and last traded at $6.68, approximately 2,919 shares changed hands during trading. A decline of 93% from the average daily volume of 41,221 shares. The stock had previously closed at $5.95.
YIN has been the topic of several recent research reports. BidaskClub raised Yintech Investment from a “hold” rating to a “buy” rating in a report on Tuesday. ValuEngine raised Yintech Investment from a “hold” rating to a “buy” rating in a report on Monday, October 21st.
The company has a fifty day moving average price of $5.35 and a 200-day moving average price of $4.91.
A hedge fund recently raised its stake in Yintech Investment stock. BlackRock Inc. increased its stake in shares of Yintech Investment Holdings Ltd – (NASDAQ:YIN) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 319,553 shares of the financial services provider’s stock after purchasing an additional 36,727 shares during the quarter. BlackRock Inc. owned 0.45% of Yintech Investment worth $1,501,000 at the end of the most recent quarter. Institutional investors own 0.81% of the company’s stock.
About Yintech Investment (NASDAQ:YIN)
Yintech Investment Holdings Limited, together with its subsidiaries, provides trading and investment services for online spot commodity trading in the People's Republic of China. The company facilitates the trading by individual customers of gold, silver, and other precious metals and commodities on three exchanges, Shanghai Gold Exchange, Tianjin Precious Metals Exchange, and Guangdong Precious Metals Exchange in China.
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