Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Sees Unusually-High Trading Volume – Here’s Why

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) saw an uptick in trading volume on Thursday . Approximately 880,077 shares were traded during trading, an increase of 4% from the previous session’s volume of 849,850 shares.The stock last traded at $617.91 and had previously closed at $600.01.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The firm has a 50 day moving average of $818.01 and a two-hundred day moving average of $506.29. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 9.42 and a beta of 4.43.

Shares of Direxion Daily MSCI South Korea Bull 3x Shares are scheduled to split on the morning of Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, July 14th.

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

A number of institutional investors have recently added to or reduced their stakes in the stock. NWI Management LP bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter valued at approximately $3,566,000. Hoey Investments Inc. bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth $43,000. Tucker Asset Management LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth $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 worth $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 worth $1,039,000.

Direxion Daily MSCI South Korea Bull 3x Shares 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.