Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Trading Down 16.9% – What’s Next?

Shares of Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) dropped 16.9% during mid-day trading on Monday . The company traded as low as $18.96 and last traded at $19.1760. Approximately 12,733,348 shares were traded during mid-day trading, a decline of 40% from the average session volume of 21,090,941 shares. The stock had previously closed at $23.07.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The business’s 50 day simple moving average is $20.60 and its 200-day simple moving average is $27.57. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 9.42 and a beta of 4.58.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3X ETF

Several hedge funds and other institutional investors have recently modified their holdings of KORU. Hoey Investments Inc. purchased a new position in Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter valued at about $43,000. Tucker Asset Management LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 4th quarter worth about $47,000. Group One Trading LLC lifted its holdings in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 263.9% during the 2nd 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. Jane Street Group LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 2nd quarter valued at about $1,893,000. Finally, Virtu Financial LLC lifted its holdings in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 292.8% during the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after buying an additional 20,986 shares during the last quarter.

Direxion Daily MSCI South Korea Bull 3X ETF 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.