Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Trading Down 11.6% – Time to Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price dropped 11.6% on Monday . The company traded as low as $17.94 and last traded at $18.00. 10,435,992 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 21,192,293 shares. The stock had previously closed at $20.36.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 11.0%

The stock has a market cap of $1.74 billion, a PE ratio of 9.42 and a beta of 4.51. The firm has a 50-day simple moving average of $25.34 and a 200-day simple moving average of $27.51.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3x Shares

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth about $34,000. Hoey Investments Inc. purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter worth about $43,000. Tucker Asset Management LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $47,000. Group One Trading LLC increased its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after acquiring an additional 1,855 shares during the period. Finally, 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.

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.