Direxion Daily MSCI South Korea Bull 3x Shares Target of Unusually Large Options Trading (NYSEARCA:KORU)

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) was the recipient of some unusual options trading on Monday. Investors purchased 33,795 call options on the company. This is an increase of 80% compared to the average volume of 18,745 call options.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 7.3%

Shares of KORU traded down $1.49 during trading hours on Monday, hitting $18.87. The company had a trading volume of 16,343,311 shares, compared to its average volume of 21,254,184. The firm has a market cap of $1.57 billion, a P/E ratio of 9.42 and a beta of 4.51. The stock’s 50 day moving average price is $26.47 and its 200 day moving average price is $27.47. Direxion Daily MSCI South Korea Bull 3x Shares has a 52-week low of $3.80 and a 52-week high of $63.98.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hoey Investments Inc. purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth approximately $43,000. Farther Finance Advisors LLC bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $34,000. Tucker Asset Management LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at approximately $47,000. Group One Trading LLC boosted its stake 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 valued at $207,000 after purchasing an additional 1,855 shares during the period. Finally, NWI Management LP bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter worth approximately $3,566,000.

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.