Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Price Down 3.8% – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU)’s share price fell 3.8% during mid-day trading on Wednesday. The stock traded as low as $20.27 and last traded at $20.6530. 6,254,381 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 21,014,809 shares. The stock had previously closed at $21.47.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Down 6.1%

The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 9.42 and a beta of 4.58. The stock’s 50 day moving average is $19.82 and its 200 day moving average is $27.31.

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

A hedge fund recently bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF stock. NWI Management LP acquired a new stake in Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.

About Direxion Daily MSCI South Korea Bull 3X ETF

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.