Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Jumps 5% – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU)’s stock price rose 5% on Tuesday. The company traded as high as $21.35 and last traded at $21.41. 4,982,357 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 21,056,070 shares. The stock had previously closed at $20.40.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 6.8%

The company’s 50 day simple moving average is $19.80 and its 200-day simple moving average is $27.34. The firm has a market cap of $1.29 billion, a P/E ratio of 9.42 and a beta of 4.58.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

An institutional investor recently bought a new position in Direxion Daily MSCI South Korea Bull 3X ETF stock. NWI Management LP purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,552 shares of the company’s stock, valued at approximately $3,566,000. NWI Management LP owned 0.44% of Direxion Daily MSCI South Korea Bull 3X ETF as of its most recent SEC filing.

Direxion Daily MSCI South Korea Bull 3X ETF 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.