The short interest in the Direxion HCM Tactical Enhanced U.S. ETF (NYSEARCA: HCMT) experienced a significant increase of 236.4% in December. As of December 15, 2023, the total short interest reached 4,780 shares, up from 1,421 shares at the end of November. This surge indicates heightened bearish sentiment toward the fund, as it now represents 0.0% of the company’s outstanding stock. With an average daily trading volume of 62,038 shares, the days-to-cover ratio stands at 0.1 days.
Multiple institutional investors have recently adjusted their positions in the Direxion HCM Tactical Enhanced U.S. ETF, reflecting changing market dynamics. Howard Capital Management Inc. increased its holdings by 3.7% during the third quarter, now owning 9,559,154 shares valued at approximately $358.4 million after acquiring an additional 344,883 shares. Similarly, Orion Portfolio Solutions LLC raised its stake by 1.5%, owning 2,266,959 shares worth around $85 million following a purchase of 32,422 shares.
In the second quarter, Wealth Watch Advisors Inc. boosted its stake in the ETF by 4.8%, now holding 461,520 shares valued at approximately $15 million. Discipline Wealth Solutions LLC made a more substantial increase, enhancing its position by 52.1%, resulting in ownership of 270,783 shares worth about $8.8 million. Envestnet Asset Management Inc. also expanded its holdings, growing its stake by 15.6% to own 226,206 shares valued at approximately $8.5 million.
Performance Metrics of Direxion HCM Tactical Enhanced U.S. ETF
On the trading front, the Direxion HCM Tactical Enhanced U.S. ETF saw its stock price decrease slightly by $0.01 to $39.63 during midday trading on a recent Friday. The total volume for the day was 16,840 shares, which is lower than the average volume of 71,944 shares. The ETF has a market capitalization of $596.43 million, a price-to-earnings ratio of 21.26, and a beta of 1.83, indicating its volatility relative to the market.
Over the past year, the Direxion HCM Tactical Enhanced U.S. ETF has exhibited a range in stock performance, reaching a low of $24.58 and a high of $40.92. The fund’s 50-day moving average stands at $38.72, while the 200-day moving average is at $35.92.
About Direxion HCM Tactical Enhanced U.S. ETF
The Direxion HCM Tactical Enhanced U.S. ETF is an exchange-traded fund that primarily invests in total market equities. Launched on June 22, 2023, it is actively managed and employs a fund-of-funds strategy. The ETF alternates between a 200% leveraged position in U.S. equities and a 100% investment in cash or cash equivalents, based on a proprietary tactical indicator designed to identify broad trends in the U.S. equity markets.
As the financial landscape continually shifts, the trends surrounding the Direxion HCM Tactical Enhanced U.S. ETF will be closely monitored by investors and analysts alike, especially in light of its recent performance and shifting investor strategies.
