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

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) saw unusually-strong trading volume on Wednesday . Approximately 1,435,638 shares changed hands during mid-day trading, an increase of 65% from the previous session’s volume of 871,630 shares.The stock last traded at $509.00 and had previously closed at $544.83.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The firm has a 50 day moving average of $821.06 and a 200-day moving average of $515.03. The stock has a market capitalization of $1.25 billion, a P/E ratio of 9.42 and a beta of 4.43.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Hoey Investments Inc. acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth $43,000. Farther Finance Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $34,000. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $47,000. 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 acquiring an additional 1,855 shares in the last quarter. Finally, Sovereign Financial Group Inc. increased 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 valued at $739,000 after acquiring an additional 1,610 shares during the period.

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.