Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Down 15.3% – Time to Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price were down 15.3% during mid-day trading on Friday . The company traded as low as $698.85 and last traded at $702.62. 447,391 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 838,227 shares. The stock had previously closed at $829.09.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 7.1%

The business’s 50 day moving average price is $797.76 and its two-hundred day moving average price is $487.82. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 9.42 and a beta of 4.38.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter worth approximately $1,893,000. Virtu Financial LLC raised its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock worth $2,972,000 after purchasing an additional 20,986 shares during the last quarter. Susquehanna International Group LLP lifted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% in the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after purchasing an additional 18,682 shares during the period. NWI Management LP bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter valued at $3,566,000. Finally, Optiver Holding B.V. boosted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% in the 3rd quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock valued at $1,439,000 after purchasing an additional 10,942 shares during the last quarter.

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.