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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) saw unusually-strong trading volume on Wednesday. Approximately 33,729,187 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 22,785,010 shares. The stock last traded at $11.2810 and had previously closed at $11.01.

Direxion Daily MSCI South Korea Bull 3X ETF Price Performance

The company has a market capitalization of $1.07 billion, a P/E ratio of 9.42 and a beta of 4.85. The firm has a fifty day moving average price of $17.88 and a 200-day moving average price of $24.24.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

Several institutional investors have recently bought and sold shares of the company. Vestor Capital LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter worth $136,000. StoneX Group Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter worth approximately $349,000. Parallel Advisors LLC bought a new position in Direxion Daily MSCI South Korea Bull 3X ETF in the 3rd quarter valued at $36,000. Hoey Investments Inc. grew its position in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 2,271.4% during the 3rd quarter. Hoey Investments Inc. now owns 4,150 shares of the company’s stock valued at $83,000 after purchasing an additional 3,975 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,696.2% in the third quarter. SBI Securities Co. Ltd. now owns 4,203 shares of the company’s stock worth $84,000 after purchasing an additional 3,969 shares during the period.

About Direxion Daily MSCI South Korea Bull 3X ETF

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.