Korean Retail Investors Dump 'SOXL' for New 2x Leveraged Memory Chip ETF

So-called "Seohak Ants," or South Korean retail investors who actively trade foreign stocks, have been seen selling off their existing exchange-traded funds (ETFs) and heavily purchasing a newly launched memory semiconductor-related ETF on its first day of listing.
According to SEIBro, the securities information portal of the Korea Securities Depository, on June 30, individual investors bought USD 125.47 million (approximately KRW 194.6 billion) worth of the "RAM ETF" (Roundhill T-Rex 2X Long DRAM Daily Target ETF) on June 24.
This ETF is a product that tracks twice the daily performance of the Roundhill Memory ETF, which includes global memory semiconductor companies such as Samsung Electronics, SK Hynix, and Micron.
It is a leveraged product for memory semiconductor ETFs and was listed on June 24.
On that day, retail investors bought USD 128.70 million worth of the ETF and sold USD 2.95 million worth.
It was the top net-bought stock by retail investors that day.
In contrast, they sold off USD 609.81 million (approximately KRW 943.9 billion), or nearly KRW 1 trillion, worth of the Direxion Daily Semiconductors Bull 3X Shares ETF (SOXL), which they had been aggressively buying recently.
The second most net-bought stock was Caterpillar, a major U.S. construction and heavy equipment manufacturer (USD 78.13 million in net purchases), followed by Intel (USD 42.39 million) and Micron (USD 40.86 million) in third and fourth place, respectively.
SpaceX saw only USD 13.65 million in net purchases.
Despite the heavy net buying by retail investors, the "RAM ETF" saw its stock price fall by 13.40% on its first day of listing, but it surged by 20.68% the following day, June 25.
(Photo: Getty Images Korea)
※ Please note: This article was translated by AI and may contain errors.