Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Sees Large Decrease in Short Interest

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) saw a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 97,110 shares, a drop of 42.3% from the April 15th total of 168,242 shares. Based on an average daily trading volume, of 581,780 shares, the days-to-cover ratio is presently 0.2 days. Approximately 3.4% of the company’s stock are short sold.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

Direxion Daily MSCI South Korea Bull 3x Shares stock traded down $37.52 during midday trading on Monday, reaching $713.82. The company’s stock had a trading volume of 692,910 shares, compared to its average volume of 783,463. The stock’s 50-day simple moving average is $482.63 and its 200-day simple moving average is $339.59. Direxion Daily MSCI South Korea Bull 3x Shares has a 52-week low of $44.71 and a 52-week high of $1,007.80. The stock has a market capitalization of $2.06 billion, a P/E ratio of 9.42 and a beta of 4.17.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Hoey Investments Inc. acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at about $43,000. Tucker Asset Management LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at about $47,000. Farther Finance Advisors LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at about $34,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at about $1,039,000. Finally, Sovereign Financial Group Inc. increased its holdings in shares of 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 valued at $739,000 after purchasing an additional 1,610 shares during the period.

About Direxion Daily MSCI South Korea Bull 3x Shares

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.