Direxion Daily MSCI Emerging Markets Bear 3X ETF (NYSEARCA:EDZ) Stock Short Interest Drops 67.8%

Direxion Daily MSCI Emerging Markets Bear 3X ETF (NYSEARCA:EDZ) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totaling 66,309 shares, a decline of 67.8% from the August 31st total of 206,100 shares. Based on an average daily trading volume, of 170,277 shares, the days-to-cover ratio is currently 0.4 days. Currently, 4.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On Direxion Daily MSCI Emerging Markets Bear 3X ETF

A hedge fund recently raised its position in Direxion Daily MSCI Emerging Markets Bear 3X ETF stock. Group One Trading LLC lifted its position in shares of Direxion Daily MSCI Emerging Markets Bear 3X ETF (NYSEARCA:EDZ) by 507.5% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,051 shares of the company’s stock after purchasing 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 as of its most recent filing with the SEC.

Direxion Daily MSCI Emerging Markets Bear 3X ETF Price Performance

EDZ stock traded down $0.46 on Friday, reaching $13.74. The company had a trading volume of 264,153 shares, compared to its average volume of 263,093. Direxion Daily MSCI Emerging Markets Bear 3X ETF has a 1 year low of $13.02 and a 1 year high of $43.74. The company’s fifty day moving average is $15.34 and its 200 day moving average is $18.65.

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.