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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 150,347 shares, an increase of 123.4% from the February 12th total of 67,302 shares. Currently, 11.3% of the company’s stock are short sold. Based on an average trading volume of 449,345 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 449,345 shares, the days-to-cover ratio is currently 0.3 days. Currently, 11.3% of the company’s stock are short sold.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3x Shares

A number of hedge funds have recently modified their holdings of KORU. Farther Finance Advisors LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth about $34,000. Tucker Asset Management LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at approximately $47,000. Group One Trading LLC raised its stake in 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 valued at $207,000 after buying an additional 1,855 shares during the last quarter. Sovereign Financial Group Inc. purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the third quarter valued at $260,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth $1,039,000.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

Shares of NYSEARCA:KORU opened at $316.32 on Friday. Direxion Daily MSCI South Korea Bull 3x Shares has a 52-week low of $27.16 and a 52-week high of $665.40. The firm has a market capitalization of $420.71 million, a P/E ratio of 9.42 and a beta of 3.65. The stock has a 50 day moving average price of $370.31 and a 200-day moving average price of $217.71.

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.