Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Short Interest Update

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) saw a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 504,425 shares, an increase of 291.2% from the May 31st total of 128,952 shares. Based on an average daily volume of 1,210,119 shares, the days-to-cover ratio is currently 0.4 days. Approximately 17.5% of the shares of the company are short sold.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 9.6%

Shares of NYSEARCA KORU traded down $70.63 during trading on Monday, reaching $667.92. 632,158 shares of the company traded hands, compared to its average volume of 839,521. The firm’s fifty day simple moving average is $803.62 and its 200 day simple moving average is $491.87. The stock has a market cap of $1.92 billion, a P/E ratio of 9.42 and a beta of 4.38. Direxion Daily MSCI South Korea Bull 3x Shares has a 12-month low of $73.95 and a 12-month high of $1,279.70.

Shares of Direxion Daily MSCI South Korea Bull 3x Shares are scheduled to split on the morning of Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly issued shares will be payable to shareholders after the closing bell on Tuesday, July 14th.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Hoey Investments Inc. purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth approximately $43,000. Farther Finance Advisors LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at approximately $34,000. Tucker Asset Management LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at approximately $47,000. Sovereign Financial Group Inc. lifted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the 4th 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. Finally, Group One Trading LLC lifted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after purchasing an additional 1,855 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.