Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Down 6.5% – Time to Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) were down 6.5% during mid-day trading on Monday . The stock traded as low as $13.42 and last traded at $14.02. 16,222,391 shares traded hands during trading, a decline of 20% from the average session volume of 20,292,047 shares. The stock had previously closed at $14.99.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Up 20.5%

The company has a fifty day moving average price of $33.66 and a two-hundred day moving average price of $27.14. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 9.42 and a beta of 4.51.

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

A number of hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at approximately $1,039,000. Farther Finance Advisors LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $34,000. Tucker Asset Management LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at about $47,000. Hoey Investments Inc. acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at about $43,000. Finally, NWI Management LP purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth about $3,566,000.

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.