Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Falls 7.5% – What’s Next?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) shares fell 7.5% during mid-day trading on Wednesday. The company traded as low as $13.42 and last traded at $13.6170. 17,469,158 shares were traded during trading, a decline of 17% from the average daily volume of 21,154,906 shares. The stock had previously closed at $14.72.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The company has a market capitalization of $825.69 million, a price-to-earnings ratio of 9.42 and a beta of 4.59. The company has a 50-day moving average price of $20.08 and a 200-day moving average price of $27.41.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of KORU. Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter valued at approximately $43,000. Farther Finance Advisors LLC raised its holdings in Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% in the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock worth $30,000 after purchasing an additional 1,444 shares during the period. Finally, NWI Management LP acquired a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter worth $3,566,000.

Direxion Daily MSCI South Korea Bull 3X ETF 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.