Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Sees Large Decrease in Short Interest

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) was the target of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 97,110 shares, a decrease of 42.3% from the April 15th total of 168,242 shares. Based on an average daily trading volume, of 581,780 shares, the days-to-cover ratio is presently 0.2 days. Approximately 3.4% of the company’s stock are short sold.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

Shares of KORU stock traded down $37.52 during mid-day trading on Monday, hitting $713.82. The stock had a trading volume of 692,910 shares, compared to its average volume of 783,463. Direxion Daily MSCI South Korea Bull 3x Shares has a 12-month low of $44.71 and a 12-month high of $1,007.80. The firm has a market capitalization of $2.06 billion, a P/E ratio of 9.42 and a beta of 4.17. The firm’s 50-day moving average is $482.63 and its two-hundred day moving average is $339.59.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Several hedge funds have recently made changes to their positions in the company. Hoey Investments Inc. purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth $43,000. Farther Finance Advisors LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $34,000. Tucker Asset Management LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $47,000. Sovereign Financial Group Inc. lifted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after purchasing an additional 1,610 shares during the last quarter. Finally, Group One Trading LLC raised its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after buying an additional 1,855 shares during the last quarter.

Direxion Daily MSCI South Korea Bull 3x Shares Company Profile

The Direxion Daily South Korea Bull 3X Shares (KORU) is an exchange-traded fund that is based on the MSCI Korea 25-50 index. The fund provides 300% daily leveraged exposure to a market-cap-weighted index of large- and mid-cap South Korean companies. KORU was launched on Apr 11, 2013 and is managed by Direxion.