Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Sees Unusually-High Trading Volume – Time to Buy?

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) saw unusually-strong trading volume on Tuesday . Approximately 620,554 shares were traded during trading, an increase of 16% from the previous session’s volume of 533,109 shares.The stock last traded at $407.18 and had previously closed at $403.01.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Up 5.3%

The company has a market capitalization of $564.45 million, a P/E ratio of 9.42 and a beta of 3.65. The stock has a 50 day moving average price of $357.56 and a 200 day moving average price of $212.09.

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

A number of hedge funds have recently made changes to their positions in KORU. Jane Street Group LLC acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter worth about $1,893,000. Group One Trading LLC boosted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after purchasing an additional 1,855 shares in the last quarter. Sovereign Financial Group Inc. acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the third quarter worth approximately $260,000. Optiver Holding B.V. grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% during the third quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock worth $1,439,000 after purchasing an additional 10,942 shares during the period. Finally, Virtu Financial LLC increased its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in 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.

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.