Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Up 10% – Here’s Why

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares rose 10% during trading on Wednesday . The company traded as high as $513.26 and last traded at $508.06. Approximately 182,965 shares changed hands during trading, a decline of 78% from the average daily volume of 817,761 shares. The stock had previously closed at $461.74.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 14.1%

The company has a market cap of $1.86 billion, a P/E ratio of 9.42 and a beta of 3.58. The company has a 50 day moving average price of $405.96 and a 200-day moving average price of $270.86.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $34,000. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $47,000. Group One Trading LLC lifted its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after buying an additional 1,855 shares during the period. Sovereign Financial Group Inc. acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the third quarter valued at $260,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $1,039,000.

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.