KORU Gains 18.45% as Direxion’s 3X Target Applies for One Day

The Direxion Daily MSCI South Korea Bull 3X ETF (KORU) gained 18.45% in one session; its stated 300% objective is measured against one day of index performance, a distinction for longer-term returns.

KORU closed at $8.54 at 4 p.m. ET (21:00 UTC) Wednesday, Nov. 11, up $1.33 for the session. Its net asset value was $8.55, an increase of $1.34, or 18.51%.

The fund targets a return, before fees and expenses, equal to three times the index’s performance for a single day. Direxion cautions, “The fund should not be expected to provide three times the benchmark’s cumulative return for periods greater than a day.”