Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) Stock Short Interest Falls 56.3%

Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) saw a significant decrease in short interest in October. As of October 15th, there was short interest totaling 4,565 shares, a decrease of 56.3% from the September 30th total of 10,444 shares. Based on an average daily trading volume, of 32,795 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s shares are sold short.

Direxion HCM Tactical Enhanced U.S. ETF Stock Performance

Shares of NYSEARCA HCMT traded down $2.22 during mid-day trading on Friday, hitting $38.98. 16,121 shares of the stock traded hands, compared to its average volume of 51,277. Direxion HCM Tactical Enhanced U.S. ETF has a 52 week low of $34.19 and a 52 week high of $44.85. The stock has a fifty day moving average price of $41.83 and a 200-day moving average price of $39.57. The company has a market cap of $565.21 million, a price-to-earnings ratio of 21.26 and a beta of 1.61.

Hedge Funds Weigh In On Direxion HCM Tactical Enhanced U.S. ETF

Several hedge funds have recently added to or reduced their stakes in the company. Wealth Watch Advisors INC grew its position in shares of Direxion HCM Tactical Enhanced U.S. ETF by 8.5% during the 1st quarter. Wealth Watch Advisors INC now owns 392,248 shares of the company’s stock valued at $13,803,000 after acquiring an additional 30,783 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Direxion HCM Tactical Enhanced U.S. ETF by 13.6% during the 2nd quarter. NewEdge Advisors LLC now owns 265,483 shares of the company’s stock worth $11,134,000 after acquiring an additional 31,837 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Direxion HCM Tactical Enhanced U.S. ETF by 1.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 197,544 shares of the company’s stock worth $8,285,000 after acquiring an additional 2,414 shares during the period. Partners Wealth Management LLC acquired a new stake in shares of Direxion HCM Tactical Enhanced U.S. ETF in the third quarter valued at about $4,884,000. Finally, Tucker Asset Management LLC acquired a new stake in Direxion HCM Tactical Enhanced U.S. ETF in the second quarter valued at $568,000.

About Direxion HCM Tactical Enhanced U.S. ETF

The Direxion HCM Tactical Enhanced US ETF (HCMT) is an exchange-traded fund that mostly invests in total market equity. The fund is an actively managed fund-of-funds that toggles between a 200% leveraged US equity position and a 100% investment to cash or cash equivalents based on a proprietary tactical indicator that identifies broad trends in the US equity markets. HCMT was launched on Jun 22, 2023 and is managed by Direxion.