Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Shorted: Short Interest Up 94.4% in October

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 28,861,983 shares, an increase of 94.4% from the September 30th total of 14,846,148 shares. Based on an average daily volume of 29,721,152 shares, the short-interest ratio is presently 1.0 days. Currently, 25.5% of the shares of the company are short sold.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

Shares of NYSEARCA KORU traded up $0.60 during midday trading on Monday, reaching $11.23. The company’s stock had a trading volume of 17,763,359 shares, compared to its average volume of 22,603,164. Direxion Daily MSCI South Korea Bull 3X ETF has a fifty-two week low of $6.28 and a fifty-two week high of $63.98. The business’s 50 day moving average price is $18.23 and its two-hundred day moving average price is $24.25. The company has a market cap of $1.18 billion, a P/E ratio of 9.42 and a beta of 4.59.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. NWI Management LP acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the first quarter worth $3,566,000. Capstone Capital Management Ltd acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter valued at $2,579,000. Millennium Capital Advisors LLC bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter worth $220,000. SBI Securities Co. Ltd. grew its position in 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 last quarter. Finally, Hoey Investments Inc. increased its holdings in Direxion Daily MSCI South Korea Bull 3X ETF by 2,271.4% in the 3rd quarter. Hoey Investments Inc. now owns 4,150 shares of the company’s stock worth $83,000 after purchasing an additional 3,975 shares in the last quarter.

Direxion Daily MSCI South Korea Bull 3X ETF 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.