Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Sees Unusually-High Trading Volume – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) saw unusually-strong trading volume on Wednesday. Approximately 33,729,187 shares changed hands during trading, an increase of 48% from the average daily volume of 22,785,010 shares. The stock last traded at $11.2810 and had previously closed at $11.01.

Direxion Daily MSCI South Korea Bull 3X ETF Price Performance

The stock has a market cap of $696.30 million, a P/E ratio of 9.42 and a beta of 4.85. The firm’s fifty day moving average price is $17.39 and its two-hundred day moving average price is $24.19.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KORU. Capstone Capital Management Ltd bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter valued at about $2,579,000. StoneX Group Inc. purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter worth about $349,000. NWI Management LP purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the first quarter worth about $3,566,000. Millennium Capital Advisors LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter worth about $220,000. Finally, Vestor Capital LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the third quarter worth approximately $136,000.

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.