Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Stock Price Down 7.7% – Here’s Why

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price fell 7.7% on Tuesday . The company traded as low as $902.77 and last traded at $922.00. 499,462 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 822,281 shares. The stock had previously closed at $999.25.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The business’s 50-day simple moving average is $709.72 and its two-hundred day simple moving average is $444.25. The stock has a market capitalization of $2.68 billion, a price-to-earnings ratio of 9.42 and a beta of 4.38.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3x Shares

Several large investors have recently added to or reduced their stakes in KORU. Jane Street Group LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter worth about $1,893,000. Virtu Financial LLC lifted its position in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock worth $2,972,000 after acquiring an additional 20,986 shares in the last quarter. Susquehanna International Group LLP lifted its position in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after acquiring an additional 18,682 shares in the last quarter. NWI Management LP purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth approximately $3,566,000. Finally, Optiver Holding B.V. grew its position in Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% in the third quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock valued at $1,439,000 after acquiring an additional 10,942 shares in the last quarter.

About Direxion Daily MSCI South Korea Bull 3x Shares

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.