Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Down 7.7% – What’s Next?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) shares fell 7.7% on Thursday. The stock traded as low as $18.42 and last traded at $18.5090. Approximately 12,760,322 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 20,935,830 shares. The stock had previously closed at $20.05.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 10.2%

The stock has a market capitalization of $1.19 billion, a P/E ratio of 9.42 and a beta of 4.59. The firm’s fifty day moving average is $20.29 and its 200-day moving average is $27.44.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Direxion Daily MSCI South Korea Bull 3X ETF stock. Hoey Investments Inc. acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 150 shares of the company’s stock, valued at approximately $43,000.

About Direxion Daily MSCI South Korea Bull 3X ETF

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.