Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Falls 9.4% – Should You Sell?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) shares fell 9.4% during mid-day trading on Tuesday. The company traded as low as $7.02 and last traded at $6.9680. Approximately 37,670,836 shares changed hands during trading, an increase of 57% from the average session volume of 24,014,127 shares. The stock had previously closed at $7.69.

Direxion Daily MSCI South Korea Bull 3X ETF Price Performance

The stock has a fifty day moving average of $16.84 and a 200 day moving average of $24.12. The firm has a market capitalization of $695.68 million, a P/E ratio of 9.42 and a beta of 4.85.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

Several large investors have recently modified their holdings of KORU. Farther Finance Advisors LLC grew its holdings in Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% during the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock valued at $30,000 after purchasing an additional 1,444 shares during the period. Parallel Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter worth $36,000. Hoey Investments Inc. grew its stake 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 worth $83,000 after acquiring an additional 3,975 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,696.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,203 shares of the company’s stock worth $84,000 after acquiring an additional 3,969 shares during the period. Finally, Vestor Capital LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the 3rd quarter worth about $136,000.

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.