Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Down 12% – Should You Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price were down 12% during trading on Friday . The stock traded as low as $19.00 and last traded at $19.37. Approximately 9,075,443 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 18,591,711 shares. The stock had previously closed at $22.01.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 18.9%

The business has a 50 day simple moving average of $37.05 and a two-hundred day simple moving average of $26.86. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 9.42 and a beta of 4.43.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KORU. NWI Management LP acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter valued at approximately $3,566,000. Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at $43,000. Tucker Asset Management LLC bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $47,000. Farther Finance Advisors LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at $34,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at $1,039,000.

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.