Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Sees Large Decrease in Short Interest

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 97,110 shares, a drop of 42.3% from the April 15th total of 168,242 shares. Based on an average daily volume of 581,780 shares, the days-to-cover ratio is currently 0.2 days. Approximately 3.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hoey Investments Inc. bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth approximately $43,000. Farther Finance Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth approximately $34,000. Tucker Asset Management LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth approximately $47,000. Group One Trading LLC increased its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after purchasing an additional 1,855 shares during the period. Finally, Sovereign Financial Group Inc. increased its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after purchasing an additional 1,610 shares during the period.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 5.0%

Shares of KORU traded down $37.52 during mid-day trading on Monday, hitting $713.82. 692,910 shares of the company’s stock were exchanged, compared to its average volume of 783,463. Direxion Daily MSCI South Korea Bull 3x Shares has a 52 week low of $44.71 and a 52 week high of $1,007.80. The stock’s 50-day simple moving average is $482.63 and its 200-day simple moving average is $339.59. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 9.42 and a beta of 4.17.

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.