Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Sees Large Increase in Short Interest

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 504,425 shares, an increase of 291.2% from the May 31st total of 128,952 shares. Currently, 17.5% of the company’s shares are short sold. Based on an average daily trading volume, of 1,210,119 shares, the short-interest ratio is currently 0.4 days.

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

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $34,000. Hoey Investments Inc. bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter valued at $43,000. Tucker Asset Management LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at $47,000. Group One Trading LLC lifted 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 during the period. Finally, Sovereign Financial Group Inc. boosted its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after acquiring an additional 1,610 shares in the last quarter.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 10.9%

KORU traded down $90.54 during trading on Friday, reaching $738.55. 909,768 shares of the stock traded hands, compared to its average volume of 842,747. The stock’s 50-day moving average is $803.62 and its 200 day moving average is $489.57. Direxion Daily MSCI South Korea Bull 3x Shares has a 12 month low of $73.95 and a 12 month high of $1,279.70. The stock has a market capitalization of $2.13 billion, a PE ratio of 9.42 and a beta of 4.38.

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

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.