Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Down 11.6% – What’s Next?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price fell 11.6% on Monday . The stock traded as low as $17.94 and last traded at $18.00. Approximately 10,435,992 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 21,192,293 shares. The stock had previously closed at $20.36.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The company’s 50-day moving average price is $26.47 and its 200-day moving average price is $27.47. The company has a market cap of $1.57 billion, a P/E ratio of 9.42 and a beta of 4.51.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP increased its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after purchasing an additional 18,682 shares in the last quarter. Virtu Financial LLC lifted its holdings in shares of 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 valued at $2,972,000 after purchasing an additional 20,986 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter valued at about $1,893,000. NWI Management LP acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth about $3,566,000. Finally, Group One Trading LLC boosted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after buying an additional 1,855 shares during the period.

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.