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

Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 74,063 shares, a decline of 54.0% from the June 15th total of 160,977 shares. Based on an average daily volume of 108,582 shares, the short-interest ratio is presently 0.7 days. Currently, 3.6% of the shares of the company are sold short.

Institutional Trading of Direxion Daily MSCI Emerging Markets Bull 3X Shares

A number of institutional investors have recently added to or reduced their stakes in EDC. Allied Private Wealth LLC purchased a new position in Direxion Daily MSCI Emerging Markets Bull 3X Shares during the 2nd quarter valued at about $89,000. Covestor Ltd increased its holdings in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 267.2% during the 4th 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 period. Optiver Holding B.V. lifted its stake in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 29.4% in the 1st quarter. Optiver Holding B.V. now owns 3,626 shares of the company’s stock worth $203,000 after purchasing an additional 824 shares in the last quarter. PMV Capital Advisers LLC boosted its holdings in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 422.0% in the 1st quarter. PMV Capital Advisers LLC now owns 7,282 shares of the company’s stock valued at $408,000 after purchasing an additional 5,887 shares during the period. Finally, Millington Financial Advisors LLC grew its position in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares by 34.9% during the 4th quarter. Millington Financial Advisors LLC now owns 9,129 shares of the company’s stock valued at $498,000 after purchasing an additional 2,361 shares in the last quarter.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Stock Performance

Direxion Daily MSCI Emerging Markets Bull 3X Shares stock traded down $5.78 during mid-day trading on Thursday, reaching $71.33. The company’s stock had a trading volume of 49,782 shares, compared to its average volume of 165,092. The company has a market capitalization of $151.93 million, a P/E ratio of 15.39 and a beta of 2.18. The firm’s fifty day moving average price is $86.79 and its two-hundred day moving average price is $73.75. Direxion Daily MSCI Emerging Markets Bull 3X Shares has a 12-month low of $38.08 and a 12-month high of $103.88.

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.