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

Direxion Daily MSCI Emerging Markets Bull 3X ETF (NYSEARCA:EDC) was the target of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 140,378 shares, a growth of 190.5% from the September 15th total of 48,331 shares. Approximately 6.7% of the shares of the company are sold short. Based on an average daily volume of 52,472 shares, the days-to-cover ratio is currently 2.7 days.

Direxion Daily MSCI Emerging Markets Bull 3X ETF Stock Performance

Shares of NYSEARCA EDC traded down $1.29 during midday trading on Tuesday, reaching $72.58. The company’s stock had a trading volume of 91,760 shares, compared to its average volume of 139,055. The company has a market cap of $158.22 million, a P/E ratio of 15.39 and a beta of 2.23. The business’s 50 day moving average price is $78.68 and its two-hundred day moving average price is $78.54. Direxion Daily MSCI Emerging Markets Bull 3X ETF has a fifty-two week low of $46.64 and a fifty-two week high of $103.88.

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

Several institutional investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp acquired a new stake in Direxion Daily MSCI Emerging Markets Bull 3X ETF during the 3rd quarter worth about $76,000. Allied Private Wealth LLC purchased a new position in Direxion Daily MSCI Emerging Markets Bull 3X ETF in the second quarter worth $89,000. Optiver Holding B.V. grew its position 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 valued at $203,000 after buying an additional 824 shares during the period. PMV Capital Advisers LLC increased its stake in shares of Direxion Daily MSCI Emerging Markets Bull 3X ETF by 422.0% during the 1st 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 during the last quarter. Finally, IMC Chicago LLC purchased a new stake in shares of Direxion Daily MSCI Emerging Markets Bull 3X ETF during the 1st quarter valued at approximately $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.