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

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) saw strong trading volume on Thursday . Approximately 880,077 shares traded hands during trading, an increase of 4% from the previous session’s volume of 849,850 shares.The stock last traded at $617.91 and had previously closed at $600.01.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The company has a market cap of $1.31 billion, a PE ratio of 9.42 and a beta of 4.43. The business has a 50 day moving average of $816.44 and a 200 day moving average of $503.29.

Direxion Daily MSCI South Korea Bull 3x Shares’s stock is set to split on Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly minted shares will be payable to shareholders after the market closes on Tuesday, July 14th.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Several institutional investors and hedge funds have recently modified their holdings of KORU. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $1,039,000. Sovereign Financial Group Inc. raised its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after buying an additional 1,610 shares in the last quarter. Susquehanna International Group LLP raised its stake in 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 buying an additional 18,682 shares in the last quarter. Virtu Financial LLC lifted 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 buying an additional 20,986 shares during the period. Finally, Jane Street Group LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter worth about $1,893,000.

Direxion Daily MSCI South Korea Bull 3x Shares Company Profile

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.