Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Sees Large Increase in Short Interest

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 31,477,143 shares, an increase of 102.8% from the July 15th total of 15,522,767 shares. Based on an average daily volume of 42,556,243 shares, the days-to-cover ratio is presently 0.7 days. Approximately 37.7% of the shares of the stock are short sold.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3x Shares

Several large investors have recently added to or reduced their stakes in KORU. Hoey Investments Inc. acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter worth $43,000. Farther Finance Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $34,000. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $47,000. Group One Trading LLC raised its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after buying an additional 1,855 shares during the last quarter. Finally, NWI Management LP bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at about $3,566,000.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

Shares of Direxion Daily MSCI South Korea Bull 3x Shares stock opened at $21.60 on Monday. Direxion Daily MSCI South Korea Bull 3x Shares has a 12-month low of $3.76 and a 12-month high of $63.98. The stock has a market capitalization of $1.80 billion, a P/E ratio of 9.42 and a beta of 4.51. The company has a 50-day simple moving average of $28.14 and a 200 day simple moving average of $27.39.

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.