19-Apr-2024
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The Direxion Daily MSCI Emerging Markets Bull 3X ETF seeks daily investment results before fees and expenses of 300% of the price performance of the MSCI Emerging Markets Index.
Direxion Daily MSCI Emerging Markets Bull 3X trades on the ARCA stock market under the symbol EDC.
As of April 19, 2024, EDC stock price declined to $27.07 with 40,261 million shares trading.
EDC has a beta of 2.67, meaning it tends to be more sensitive to market movements. EDC has a correlation of 0.54 to the broad based SPY ETF.
EDC has a market cap of $69.88 million. This is considered a Micro Cap stock.
In the last 3 years, EDC stock traded as high as $112.50 and as low as $20.34.
EDC has underperformed the market in the last year with a price return of -11.9% while the SPY ETF gained +21.2%. However, in the short term, EDC had mixed performance relative to the market. It has outperformed in the last 3 months, returning +8.9% vs +4.3% return in SPY. But in the last 2 weeks, EDC shares have been beat by the market, returning -11.1% compared to an SPY return of -3.5%.
EDC support price is $26.73 and resistance is $28.19 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EDC stock will trade within this expected range on the day.