Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Trading Down 8.2% – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) fell 8.2% on Wednesday . The company traded as low as $21.82 and last traded at $21.83. 5,999,947 shares changed hands during trading, a decline of 72% from the average session volume of 21,160,072 shares. The stock had previously closed at $23.77.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 9.0%

The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 9.42 and a beta of 4.58. The company has a fifty day moving average price of $19.70 and a 200-day moving average price of $27.22.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Direxion Daily MSCI South Korea Bull 3X ETF stock. NWI Management LP bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 12,552 shares of the company’s stock, valued at approximately $3,566,000. NWI Management LP owned approximately 0.44% of Direxion Daily MSCI South Korea Bull 3X ETF at the end of the most recent reporting period.

Direxion Daily MSCI South Korea Bull 3X ETF 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.