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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) was the target of a large growth in short interest in July. As of July 15th, there was short interest totaling 15,522,765 shares, a growth of 1,828.1% from the June 30th total of 805,067 shares. Based on an average daily volume of 36,774,465 shares, the days-to-cover ratio is currently 0.4 days. Currently, 20.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

A number of institutional investors and hedge funds have recently modified their holdings of KORU. Jane Street Group LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter valued at about $1,893,000. Virtu Financial LLC increased its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after buying an additional 20,986 shares during the period. Susquehanna International Group LLP increased its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% in the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock valued at $5,541,000 after buying an additional 18,682 shares during the period. NWI Management LP purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth approximately $3,566,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth approximately $1,039,000.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 18.9%

NYSEARCA:KORU traded down $4.16 during trading hours on Friday, reaching $17.85. 28,356,443 shares of the company’s stock were exchanged, compared to its average volume of 18,748,027. The company has a market capitalization of $1.33 billion, a P/E ratio of 9.42 and a beta of 4.43. Direxion Daily MSCI South Korea Bull 3x Shares has a 12 month low of $3.72 and a 12 month high of $63.98. The business’s 50-day simple moving average is $37.05 and its two-hundred day simple moving average is $26.86.

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.