Short Interest in Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) Expands By 91.7%

Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 160,977 shares, an increase of 91.7% from the May 31st total of 83,993 shares. Based on an average daily volume of 136,293 shares, the days-to-cover ratio is currently 1.2 days. Currently, 6.4% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd lifted its stake in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 267.2% in the fourth quarter. Covestor Ltd now owns 1,656 shares of the company’s stock valued at $90,000 after buying an additional 1,205 shares during the period. Optiver Holding B.V. increased its stake in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares 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 acquiring an additional 824 shares in the last quarter. PMV Capital Advisers LLC lifted its position in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares by 422.0% during the 1st quarter. PMV Capital Advisers LLC now owns 7,282 shares of the company’s stock valued at $408,000 after acquiring an additional 5,887 shares during the period. Millington Financial Advisors LLC lifted its position in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares by 34.9% during the 4th quarter. Millington Financial Advisors LLC now owns 9,129 shares of the company’s stock valued at $498,000 after acquiring an additional 2,361 shares during the period. Finally, IMC Chicago LLC bought a new position in Direxion Daily MSCI Emerging Markets Bull 3X Shares during the first quarter worth $517,000.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Price Performance

NYSEARCA EDC traded down $7.15 during mid-day trading on Wednesday, reaching $81.78. 51,156 shares of the stock were exchanged, compared to its average volume of 171,285. Direxion Daily MSCI Emerging Markets Bull 3X Shares has a one year low of $38.08 and a one year high of $103.88. The stock has a 50 day simple moving average of $86.37 and a 200-day simple moving average of $71.61. The stock has a market cap of $206.90 million, a P/E ratio of 15.39 and a beta of 2.18.

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.