Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Price Down 8.3% – Should You Sell?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) was down 8.3% during mid-day trading on Thursday. The stock traded as low as $10.80 and last traded at $10.95. Approximately 16,543,528 shares changed hands during trading, a decline of 25% from the average daily volume of 21,980,889 shares. The stock had previously closed at $11.94.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The firm has a market capitalization of $885.51 million, a P/E ratio of 9.42 and a beta of 4.59. The business has a fifty day moving average of $19.56 and a 200-day moving average of $27.34.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KORU. SBI Securities Co. Ltd. boosted its position in Direxion Daily MSCI South Korea Bull 3X ETF by 1,696.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,203 shares of the company’s stock worth $84,000 after acquiring an additional 3,969 shares during the period. Capstone Capital Management Ltd acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter valued at $2,579,000. Millennium Capital Advisors LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter valued at $220,000. Farther Finance Advisors LLC raised its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% during the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock valued at $30,000 after purchasing an additional 1,444 shares in the last quarter. Finally, NWI Management LP bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the first quarter valued at about $3,566,000.

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.