Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Stock Price Down 7.7% – Time to Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares dropped 7.7% during mid-day trading on Tuesday . The company traded as low as $902.77 and last traded at $922.00. 499,462 shares traded hands during trading, a decline of 39% from the average session volume of 822,281 shares. The stock had previously closed at $999.25.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The company has a fifty day moving average price of $734.70 and a 200 day moving average price of $455.09. The company has a market cap of $3.16 billion, a PE ratio of 9.42 and a beta of 4.38.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hoey Investments Inc. purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter valued at $43,000. Farther Finance Advisors LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth $34,000. Tucker Asset Management LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth $47,000. 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 last quarter. Finally, Group One Trading LLC increased its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second 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 during the last quarter.

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.