Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Price Down 9.4% – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) shares were down 9.4% on Tuesday. The stock traded as low as $7.02 and last traded at $6.9680. 37,670,836 shares changed hands during mid-day trading, an increase of 57% from the average daily volume of 24,014,127 shares. The stock had previously closed at $7.69.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The company has a market capitalization of $695.68 million, a PE ratio of 9.42 and a beta of 4.85. The stock’s 50 day moving average is $16.84 and its 200 day moving average is $24.12.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

Several institutional investors have recently made changes to their positions in KORU. Capstone Capital Management Ltd bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter valued at about $2,579,000. StoneX Group Inc. bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the third quarter valued at approximately $349,000. NWI Management LP bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter valued at approximately $3,566,000. Millennium Capital Advisors LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter valued at approximately $220,000. Finally, Vestor Capital LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter valued at approximately $136,000.

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.