Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) Trading 2.9% Higher – Still a Buy?

Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC)’s share price shot up 2.9% on Friday . The company traded as high as $76.11 and last traded at $75.40. 186,685 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 158,141 shares. The stock had previously closed at $73.27.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Trading Up 2.9%

The company has a market capitalization of $160.60 million, a PE ratio of 15.39 and a beta of 2.22. The stock has a fifty day simple moving average of $81.38 and a 200-day simple moving average of $74.99.

Institutional Investors Weigh In On Direxion Daily MSCI Emerging Markets Bull 3X Shares

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. boosted its holdings in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 29.4% in the first 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 in the last quarter. Allied Private Wealth LLC acquired a new stake in Direxion Daily MSCI Emerging Markets Bull 3X Shares during the second quarter worth approximately $89,000. Covestor Ltd raised its holdings in Direxion Daily MSCI Emerging Markets Bull 3X Shares by 267.2% during the fourth quarter. Covestor Ltd now owns 1,656 shares of the company’s stock worth $90,000 after purchasing an additional 1,205 shares in the last quarter. 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 worth $498,000 after buying an additional 2,361 shares during the last quarter. Finally, 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 worth $408,000 after buying an additional 5,887 shares during the last quarter.

Direxion Daily MSCI Emerging Markets Bull 3X Shares 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.