Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Down 8.3% – Should You Sell?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU)’s stock price fell 8.3% on Thursday. The stock traded as low as $10.80 and last traded at $10.95. Approximately 16,543,528 shares were traded during mid-day trading, a decline of 25% from the average session volume of 21,980,889 shares. The stock had previously closed at $11.94.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Up 3.8%

The company’s 50-day moving average is $19.12 and its two-hundred day moving average is $27.19. The stock has a market capitalization of $1.20 billion, a P/E ratio of 9.42 and a beta of 4.59.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

Several hedge funds and other institutional investors have recently made changes to their positions in KORU. Capstone Capital Management Ltd acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter worth $2,579,000. SBI Securities Co. Ltd. grew its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,696.2% in the third quarter. SBI Securities Co. Ltd. now owns 4,203 shares of the company’s stock worth $84,000 after purchasing an additional 3,969 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% during the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock valued at $30,000 after purchasing an additional 1,444 shares during the period. Millennium Capital Advisors LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter valued at $220,000. Finally, NWI Management LP acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the first quarter valued at $3,566,000.

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.