Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Short Interest Jumps 94.4%

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) saw a large increase in short interest during the month of October. As of October 15th, there was short interest totaling 28,861,983 shares, an increase of 94.4% from the September 30th total of 14,846,148 shares. Approximately 25.5% of the company’s stock are short sold. Based on an average daily trading volume, of 29,721,152 shares, the days-to-cover ratio is currently 1.0 days.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 2.4%

KORU stock opened at $10.37 on Tuesday. The firm has a 50 day simple moving average of $18.04 and a 200-day simple moving average of $24.24. The company has a market capitalization of $1.09 billion, a P/E ratio of 9.42 and a beta of 4.59. Direxion Daily MSCI South Korea Bull 3X ETF has a twelve month low of $6.28 and a twelve month high of $63.98.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Capstone Capital Management Ltd bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the 3rd quarter worth about $2,579,000. NWI Management LP acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the 1st quarter valued at about $3,566,000. Millennium Capital Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the 3rd quarter valued at about $220,000. SBI Securities Co. Ltd. lifted its position in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,696.2% during 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 during the last quarter. Finally, Hoey Investments Inc. lifted its position in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 2,271.4% during the third quarter. Hoey Investments Inc. now owns 4,150 shares of the company’s stock worth $83,000 after purchasing an additional 3,975 shares during the last quarter.

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.