Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) Sees Large Decrease in Short Interest

Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) was the target of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 71,811 shares, a drop of 55.3% from the April 15th total of 160,815 shares. Based on an average daily volume of 116,890 shares, the days-to-cover ratio is presently 0.6 days. Approximately 2.8% of the shares of the stock are short sold.

Hedge Funds Weigh In On Direxion Daily MSCI Emerging Markets Bull 3X Shares

A number of institutional investors and hedge funds have recently bought and sold shares of EDC. Jane Street Group LLC acquired a new position in Direxion Daily MSCI Emerging Markets Bull 3X Shares during the first quarter worth about $604,000. Millington Financial Advisors LLC boosted its position in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 23.8% during the third quarter. Millington Financial Advisors LLC now owns 6,768 shares of the company’s stock worth $343,000 after acquiring an additional 1,300 shares during the last quarter. Great Hill Capital LLC acquired a new position in Direxion Daily MSCI Emerging Markets Bull 3X Shares during the third quarter worth about $528,000. Covestor Ltd boosted its position in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 267.2% during the fourth quarter. Covestor Ltd now owns 1,656 shares of the company’s stock worth $90,000 after acquiring an additional 1,205 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in Direxion Daily MSCI Emerging Markets Bull 3X Shares during the fourth quarter worth about $1,693,000.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Stock Down 10.5%

Shares of NYSEARCA EDC traded down $9.50 during trading on Friday, hitting $80.68. The company had a trading volume of 142,591 shares, compared to its average volume of 187,031. The stock has a fifty day simple moving average of $68.61 and a two-hundred day simple moving average of $63.46. Direxion Daily MSCI Emerging Markets Bull 3X Shares has a fifty-two week low of $32.13 and a fifty-two week high of $93.45. The firm has a market capitalization of $204.12 million, a price-to-earnings ratio of 15.39 and a beta of 2.14.

About Direxion Daily MSCI Emerging Markets Bull 3X Shares

The Direxion Daily MSCI Emerging Markets Bull 3X Shares (EDC) is an exchange-traded fund that is based on the MSCI Emerging Markets index. The fund provides 3x leveraged exposure to a market-cap-weighted index of companies operating in emerging markets. EDC was launched on Dec 17, 2008 and is managed by Direxion.