Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Down 7.7% – Time to Sell?

by · The Markets Daily

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU – Get Free Report)’s share price traded down 7.7% during mid-day trading on Thursday. The company traded as low as $18.42 and last traded at $18.5090. 12,760,322 shares were traded during trading, a decline of 39% from the average daily volume of 20,935,830 shares. The stock had previously closed at $20.05.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Up 1.1%

The firm has a market capitalization of $1.18 billion, a PE ratio of 9.42 and a beta of 4.59. The business’s 50 day simple moving average is $20.38 and its 200 day simple moving average is $27.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KORU. Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF during the first quarter worth approximately $43,000. Farther Finance Advisors LLC boosted its holdings in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock worth $30,000 after purchasing an additional 1,444 shares during the period. Finally, NWI Management LP purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the 1st quarter worth approximately $3,566,000.

Direxion Daily MSCI South Korea Bull 3X ETF Company Profile

(Get Free Report)

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.

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