Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Down 7.5% – Time to Sell?

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

Direxion Daily MSCI South Korea Bull 3X ETF Stock Down 11.1%

The business’s fifty day moving average is $20.29 and its 200-day moving average is $27.42. The company has a market cap of $899.25 million, a PE ratio of 9.42 and a beta of 4.59.

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

Hedge funds have recently modified their holdings of the business. NWI Management LP purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the 1st quarter worth $3,566,000. Farther Finance Advisors LLC raised its holdings in Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% in the 3rd 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, Hoey Investments Inc. purchased a new position in Direxion Daily MSCI South Korea Bull 3X ETF during the first quarter valued at $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.