Short Interest in Direxion Daily MSCI Emerging Markets Bear 3X Shares (NYSEARCA:EDZ) Declines By 59.4%

Direxion Daily MSCI Emerging Markets Bear 3X Shares (NYSEARCA:EDZ) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 86,972 shares, a decline of 59.4% from the June 15th total of 214,293 shares. Based on an average daily volume of 287,941 shares, the days-to-cover ratio is currently 0.3 days. Currently, 8.9% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EDZ. Group One Trading LLC boosted its holdings in Direxion Daily MSCI Emerging Markets Bear 3X Shares by 507.5% in the first quarter. Group One Trading LLC now owns 1,051 shares of the company’s stock worth $31,000 after purchasing an additional 878 shares during the last quarter. Flow Traders U.S. LLC raised its stake in Direxion Daily MSCI Emerging Markets Bear 3X Shares by 69.4% during the 2nd quarter. Flow Traders U.S. LLC now owns 81,192 shares of the company’s stock valued at $437,000 after buying an additional 33,253 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Direxion Daily MSCI Emerging Markets Bear 3X Shares during the 4th quarter valued at $1,847,000. Finally, Virtu Financial LLC bought a new position in shares of Direxion Daily MSCI Emerging Markets Bear 3X Shares during the 4th quarter valued at $2,666,000.

Direxion Daily MSCI Emerging Markets Bear 3X Shares Price Performance

NYSEARCA EDZ traded up $0.05 during trading hours on Wednesday, hitting $16.11. The company’s stock had a trading volume of 138,685 shares, compared to its average volume of 271,722. Direxion Daily MSCI Emerging Markets Bear 3X Shares has a 12 month low of $13.06 and a 12 month high of $55.20. The company’s 50 day simple moving average is $16.20 and its two-hundred day simple moving average is $23.43.

About Direxion Daily MSCI Emerging Markets Bear 3X Shares

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