Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Trading Down 6.5% – Time to Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price traded down 6.5% during mid-day trading on Monday . The company traded as low as $13.42 and last traded at $14.02. Approximately 16,222,391 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 20,292,047 shares. The stock had previously closed at $14.99.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The firm’s 50 day moving average is $34.76 and its 200 day moving average is $27.07. The company has a market cap of $1.18 billion, a PE ratio of 9.42 and a beta of 4.43.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 2nd quarter valued at about $1,893,000. Virtu Financial LLC grew its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the third quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock worth $2,972,000 after purchasing an additional 20,986 shares in the last quarter. Susquehanna International Group LLP increased its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% in the third quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after purchasing an additional 18,682 shares during the last quarter. NWI Management LP bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter worth approximately $3,566,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth approximately $1,039,000.

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.