Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) Stock Short Interest Climbs 380.8%

Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA:HCMT) saw a significant increase in short interest in October. As of October 30th, there was short interest totaling 21,950 shares, an increase of 380.8% from the October 15th total of 4,565 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 40,946 shares, the short-interest ratio is currently 0.5 days.

Direxion HCM Tactical Enhanced U.S. ETF Stock Up 1.7%

NYSEARCA HCMT traded up $0.64 during trading hours on Wednesday, hitting $38.82. 39,454 shares of the company were exchanged, compared to its average volume of 50,852. The stock has a 50-day moving average price of $41.39 and a 200 day moving average price of $39.53. 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 market cap of $562.90 million, a PE ratio of 21.26 and a beta of 1.66.

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

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Watch Advisors INC boosted its holdings in shares of Direxion HCM Tactical Enhanced U.S. ETF by 8.5% in the 1st quarter. Wealth Watch Advisors INC now owns 392,248 shares of the company’s stock worth $13,803,000 after purchasing an additional 30,783 shares during the period. NewEdge Advisors LLC raised its holdings in 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 valued at $11,134,000 after buying an additional 31,837 shares during the period. Envestnet Asset Management Inc. lifted its position in Direxion HCM Tactical Enhanced U.S. ETF by 1.2% in the second quarter. Envestnet Asset Management Inc. now owns 197,544 shares of the company’s stock worth $8,285,000 after buying an additional 2,414 shares during the last quarter. Partners Wealth Management LLC bought a new stake in Direxion HCM Tactical Enhanced U.S. ETF in the third quarter worth $4,884,000. Finally, Tucker Asset Management LLC bought a new stake in Direxion HCM Tactical Enhanced U.S. ETF in the second quarter worth $568,000.

Direxion HCM Tactical Enhanced U.S. ETF Company Profile

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.