Direxion Daily MSCI Emerging Markets Bull 3X ETF (NYSEARCA:EDC) Stock Jumps 3.1% – Here’s What Happened

Direxion Daily MSCI Emerging Markets Bull 3X ETF (NYSEARCA:EDC)’s stock price shot up 3.1% during trading on Friday. The stock traded as high as $76.64 and last traded at $76.25. Approximately 50,770 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 139,272 shares. The stock had previously closed at $73.97.

Direxion Daily MSCI Emerging Markets Bull 3X ETF Price Performance

The stock has a 50 day simple moving average of $78.63 and a two-hundred day simple moving average of $78.27. The company has a market cap of $158.60 million, a price-to-earnings ratio of 15.39 and a beta of 2.23.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of EDC. Toth Financial Advisory Corp acquired a new stake in Direxion Daily MSCI Emerging Markets Bull 3X ETF during the third quarter worth about $76,000. Allied Private Wealth LLC purchased a new position in Direxion Daily MSCI Emerging Markets Bull 3X ETF during the second quarter worth about $89,000. Optiver Holding B.V. boosted its holdings in Direxion Daily MSCI Emerging Markets Bull 3X ETF by 29.4% in the 1st quarter. Optiver Holding B.V. now owns 3,626 shares of the company’s stock valued at $203,000 after purchasing an additional 824 shares during the last quarter. IMC Chicago LLC acquired a new position in Direxion Daily MSCI Emerging Markets Bull 3X ETF in the 1st quarter valued at about $517,000. Finally, PMV Capital Advisers LLC boosted its holdings in Direxion Daily MSCI Emerging Markets Bull 3X ETF 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 last quarter.

About Direxion Daily MSCI Emerging Markets Bull 3X ETF

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.