Direxion Daily MSCI Emerging Markets Bull 3X ETF (NYSEARCA:EDC) Shares Down 0.2% – Here’s Why

Direxion Daily MSCI Emerging Markets Bull 3X ETF (NYSEARCA:EDC)’s stock price dropped 0.2% during trading on Monday. The company traded as low as $57.22 and last traded at $57.23. Approximately 85,120 shares were traded during trading, a decline of 37% from the average daily volume of 135,261 shares. The stock had previously closed at $57.32.

Direxion Daily MSCI Emerging Markets Bull 3X ETF Price Performance

The business’s 50 day moving average price is $74.46 and its 200 day moving average price is $74.78. The stock has a market capitalization of $119.04 million, a P/E ratio of 15.39 and a beta of 2.23.

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

Hedge funds and other institutional investors have recently modified their holdings of the business. Toth Financial Advisory Corp purchased a new position in Direxion Daily MSCI Emerging Markets Bull 3X ETF in the 3rd quarter worth approximately $76,000. Allied Private Wealth LLC purchased a new position in Direxion Daily MSCI Emerging Markets Bull 3X ETF during the second quarter worth approximately $89,000. Covestor Ltd lifted its position in Direxion Daily MSCI Emerging Markets Bull 3X ETF by 11.2% during the third quarter. Covestor Ltd now owns 2,730 shares of the company’s stock worth $209,000 after buying an additional 275 shares in the last quarter. Optiver Holding B.V. boosted its stake in Direxion Daily MSCI Emerging Markets Bull 3X ETF by 29.4% during the first quarter. Optiver Holding B.V. now owns 3,626 shares of the company’s stock worth $203,000 after buying an additional 824 shares during the last quarter. Finally, IMC Chicago LLC purchased a new stake in Direxion Daily MSCI Emerging Markets Bull 3X ETF in the 1st quarter valued at $517,000.

Direxion Daily MSCI Emerging Markets Bull 3X ETF 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.