Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Down 8.2% – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) fell 8.2% on Wednesday. The company traded as low as $21.82 and last traded at $21.83. Approximately 5,999,947 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 21,160,072 shares. The stock had previously closed at $23.77.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 5.3%

The firm has a market capitalization of $1.24 billion, a P/E ratio of 9.42 and a beta of 4.58. The company has a 50-day moving average of $19.72 and a 200-day moving average of $27.27.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

An institutional investor recently bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF stock. NWI Management LP acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,552 shares of the company’s stock, valued at approximately $3,566,000. NWI Management LP owned 0.44% of Direxion Daily MSCI South Korea Bull 3X ETF at the end of the most recent reporting period.

About Direxion Daily MSCI South Korea Bull 3X ETF

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.