Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) Shares Down 2.2% – Here’s Why

Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) were down 2.2% on Friday . The stock traded as low as $79.12 and last traded at $79.62. Approximately 59,674 shares were traded during trading, a decline of 61% from the average daily volume of 151,727 shares. The stock had previously closed at $81.42.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Stock Down 2.2%

The company has a fifty day simple moving average of $77.42 and a 200-day simple moving average of $76.05. The firm has a market cap of $169.59 million, a P/E ratio of 15.39 and a beta of 2.22.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EDC. Jane Street Group LLC purchased a new stake in Direxion Daily MSCI Emerging Markets Bull 3X Shares in the 1st quarter worth approximately $604,000. Covestor Ltd lifted its holdings 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 valued at $90,000 after purchasing an additional 1,205 shares in the last quarter. Millington Financial Advisors LLC boosted its position in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares by 34.9% in the fourth quarter. Millington Financial Advisors LLC now owns 9,129 shares of the company’s stock worth $498,000 after purchasing an additional 2,361 shares during the period. Virtu Financial LLC bought a new position in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares in the fourth quarter worth approximately $1,693,000. Finally, PMV Capital Advisers LLC increased its stake in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares by 422.0% in the first quarter. PMV Capital Advisers LLC now owns 7,282 shares of the company’s stock worth $408,000 after purchasing an additional 5,887 shares in the last quarter.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Company Profile

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.