Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Price Down 7.7% – Here’s Why

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) traded down 7.7% during mid-day trading on Thursday. The stock traded as low as $18.42 and last traded at $18.5090. 12,760,322 shares changed hands during trading, a decline of 39% from the average session volume of 20,935,830 shares. The stock had previously closed at $20.05.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 10.2%

The stock has a market cap of $1.19 billion, a P/E ratio of 9.42 and a beta of 4.59. The business’s fifty day simple moving average is $20.29 and its 200 day simple moving average is $27.44.

Institutional Trading of 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. Hoey Investments Inc. acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 150 shares of the company’s stock, valued at approximately $43,000.

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.