Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Sees Large Volume Increase – Should You Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) saw unusually-strong trading volume on Thursday . Approximately 880,077 shares traded hands during mid-day trading, an increase of 4% from the previous session’s volume of 849,850 shares.The stock last traded at $617.91 and had previously closed at $600.01.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 6.4%

The company’s fifty day moving average is $816.44 and its 200 day moving average is $503.29. The company has a market cap of $1.31 billion, a P/E ratio of 9.42 and a beta of 4.43.

Direxion Daily MSCI South Korea Bull 3x Shares shares are scheduled to split on Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, July 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter worth about $1,893,000. Group One Trading LLC boosted 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 valued at $207,000 after acquiring an additional 1,855 shares during the period. Virtu Financial LLC boosted its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after acquiring an additional 20,986 shares during the period. Susquehanna International Group LLP grew its position in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after acquiring an additional 18,682 shares during the last quarter. Finally, Sovereign Financial Group Inc. grew its position in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after acquiring an additional 1,610 shares during the last quarter.

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.