Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Trading Down 20.2% – What’s Next?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price were down 20.2% during trading on Friday . The stock traded as low as $720.00 and last traded at $733.95. Approximately 383,615 shares were traded during trading, a decline of 51% from the average daily volume of 777,643 shares. The stock had previously closed at $919.88.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 9.42 and a beta of 4.17. The company’s 50 day moving average is $468.61 and its 200 day moving average is $331.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hoey Investments Inc. bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter worth $43,000. Farther Finance Advisors LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth $34,000. Tucker Asset Management LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth $47,000. Group One Trading LLC lifted its position in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after purchasing an additional 1,855 shares during the period. Finally, Sovereign Financial Group Inc. lifted its position in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after purchasing an additional 1,610 shares during the period.

Direxion Daily MSCI South Korea Bull 3x Shares 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.