Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) Short Interest Up 628.5% in June

Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) was the target of a large growth in short interest in June. As of June 30th, there was short interest totaling 45,279 shares, a growth of 628.5% from the June 15th total of 6,215 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 42,319 shares, the days-to-cover ratio is presently 1.1 days.

Direxion HCM Tactical Enhanced U.S. ETF Trading Up 0.5%

Shares of HCMT stock traded up $0.22 on Friday, reaching $41.44. The company’s stock had a trading volume of 54,771 shares, compared to its average volume of 60,814. Direxion HCM Tactical Enhanced U.S. ETF has a 1 year low of $32.54 and a 1 year high of $43.19. The company has a market capitalization of $617.46 million, a price-to-earnings ratio of 21.26 and a beta of 1.60. The stock’s fifty day simple moving average is $40.63 and its 200-day simple moving average is $38.58.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC bought a new position in Direxion HCM Tactical Enhanced U.S. ETF in the 1st quarter valued at $253,000. Northwestern Mutual Wealth Management Co. increased its position in Direxion HCM Tactical Enhanced U.S. ETF by 472.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,000 shares of the company’s stock valued at $195,000 after purchasing an additional 4,951 shares during the period. Orion Porfolio Solutions LLC raised its stake in Direxion HCM Tactical Enhanced U.S. ETF by 26.7% in the second quarter. Orion Porfolio Solutions LLC now owns 2,234,537 shares of the company’s stock worth $72,801,000 after buying an additional 470,325 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Direxion HCM Tactical Enhanced U.S. ETF in the 2nd quarter worth $240,000. Finally, Osaic Holdings Inc. raised its holdings in Direxion HCM Tactical Enhanced U.S. ETF by 40.9% in the second quarter. Osaic Holdings Inc. now owns 1,723 shares of the company’s stock worth $56,000 after purchasing an additional 500 shares in the last quarter.

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.