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) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 31,477,143 shares, an increase of 102.8% from the July 15th total of 15,522,767 shares. Based on an average daily volume of 42,556,243 shares, the days-to-cover ratio is presently 0.7 days. Approximately 37.7% of the shares of the company are short sold.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 1.6%

KORU traded up $0.33 during trading on Friday, reaching $21.60. 20,333,140 shares of the company were exchanged, compared to its average volume of 20,904,719. The company’s 50-day moving average is $28.14 and its two-hundred day moving average is $27.30. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 9.42 and a beta of 4.51. Direxion Daily MSCI South Korea Bull 3x Shares has a 12-month low of $3.76 and a 12-month high of $63.98.

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. Susquehanna International Group LLP grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the third quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock valued at $5,541,000 after acquiring an additional 18,682 shares in the last quarter. Virtu Financial LLC lifted 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 worth $2,972,000 after purchasing an additional 20,986 shares in the last quarter. Jane Street Group LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the 2nd quarter worth approximately $1,893,000. 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, Group One Trading LLC boosted its holdings in 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.

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.