Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC) Stock Price Down 19.6% – Here’s What Happened

Direxion Daily MSCI Emerging Markets Bull 3X Shares (NYSEARCA:EDC)’s stock price fell 19.6% during trading on Friday . The stock traded as low as $75.72 and last traded at $76.57. 306,999 shares changed hands during trading, an increase of 70% from the average session volume of 180,401 shares. The stock had previously closed at $95.28.

Direxion Daily MSCI Emerging Markets Bull 3X Shares Stock Performance

The stock has a 50-day moving average price of $77.30 and a 200-day moving average price of $67.01. The stock has a market cap of $193.72 million, a P/E ratio of 15.39 and a beta of 2.18.

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

A number of institutional investors and hedge funds have recently bought and sold shares of EDC. Optiver Holding B.V. raised its holdings in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares 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 acquiring an additional 824 shares in the last quarter. Covestor Ltd raised its holdings in shares of 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 valued at $90,000 after acquiring an additional 1,205 shares in the last quarter. Millington Financial Advisors LLC raised its holdings in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares by 34.9% during the fourth 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 in the last quarter. PMV Capital Advisers LLC raised its holdings in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares by 422.0% during the first 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 in the last quarter. Finally, IMC Chicago LLC bought a new position in shares of Direxion Daily MSCI Emerging Markets Bull 3X Shares during the first quarter valued at approximately $517,000.

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.