Direxion Daily MSCI Emerging Markets Bear 3X ETF (NYSEARCA:EDZ) Sees Large Drop in Short Interest

Direxion Daily MSCI Emerging Markets Bear 3X ETF (NYSEARCA:EDZ) was the target of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 60,565 shares, a decline of 35.9% from the September 30th total of 94,494 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average trading volume of 395,630 shares, the days-to-cover ratio is presently 0.2 days.

Direxion Daily MSCI Emerging Markets Bear 3X ETF Price Performance

Direxion Daily MSCI Emerging Markets Bear 3X ETF stock opened at $18.70 on Wednesday. Direxion Daily MSCI Emerging Markets Bear 3X ETF has a twelve month low of $13.02 and a twelve month high of $42.18. The company’s 50-day moving average price is $15.30 and its two-hundred day moving average price is $19.79.

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

An institutional investor recently raised its stake in Direxion Daily MSCI Emerging Markets Bear 3X ETF stock. Group One Trading LLC raised its position in Direxion Daily MSCI Emerging Markets Bear 3X ETF (NYSEARCA:EDZ) by 507.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,051 shares of the company’s stock after buying an additional 878 shares during the quarter. Group One Trading LLC owned about 0.06% of Direxion Daily MSCI Emerging Markets Bear 3X ETF worth $31,000 at the end of the most recent quarter.

About Direxion Daily MSCI Emerging Markets Bear 3X ETF

The Direxion Daily MSCI Emerging Markets Bear 3X Shares (EDZ) is an exchange-traded fund that is based on the MSCI Emerging Markets index. The fund provides 3x inverse exposure to a market-cap-weighted index of companies operating in emerging markets. EDZ was launched on Dec 17, 2008 and is managed by Direxion.