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 recipient of a significant decline in short interest during the month of April. As of April 30th, there was short interest totaling 71,811 shares, a decline of 55.3% from the April 15th total of 160,815 shares. Approximately 2.8% of the shares of the stock are sold short. Based on an average trading volume of 116,890 shares, the days-to-cover ratio is currently 0.6 days.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Price Performance

EDC traded down $9.50 on Friday, reaching $80.68. 142,591 shares of the company’s stock were exchanged, compared to its average volume of 187,031. The stock has a market cap of $204.12 million, a PE ratio of 15.39 and a beta of 2.14. The stock’s fifty day moving average price is $68.61 and its 200-day moving average price is $63.46. Direxion Daily MSCI Emerging Markets Bull 3X Shares has a twelve month low of $32.13 and a twelve month high of $93.45.

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

Several 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 in the 1st quarter valued at about $604,000. Millington Financial Advisors LLC boosted its holdings in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 23.8% in the 3rd quarter. Millington Financial Advisors LLC now owns 6,768 shares of the company’s stock valued at $343,000 after purchasing 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 in the 3rd quarter valued at about $528,000. Covestor Ltd boosted its holdings in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 267.2% in the 4th quarter. Covestor Ltd now owns 1,656 shares of the company’s stock valued at $90,000 after purchasing 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 in the 4th quarter valued at about $1,693,000.

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.