Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Price Down 8.2% – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) shares were down 8.2% on Wednesday . The company traded as low as $21.82 and last traded at $21.83. 5,999,947 shares traded hands during mid-day trading, a decline of 72% from the average daily volume of 21,160,072 shares. The stock had previously closed at $23.77.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The firm has a market capitalization of $1.33 billion, a PE ratio of 9.42 and a beta of 4.58. The firm’s 50 day moving average price is $19.70 and its 200-day moving average price is $27.22.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3X ETF

An institutional investor recently bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF stock. Hoey Investments Inc. acquired a new position 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 & Exchange Commission. The institutional investor acquired 150 shares of the company’s stock, valued at approximately $43,000.

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.