Korean Dip Buyers Fuel Record Inflows to US Leveraged Chip ETF

South Korean retail traders piled into beleaguered chip stocks last month, driving record inflows to a leveraged exchange-traded fund betting on US-listed semiconductor companies.

The Direxion Daily Semiconductor Bull 3X ETF, also known as SOXL, saw a $2.9 billion inflow on a net basis in March, an all-time amount, according to data compiled by Bloomberg. Nearly half of that came from Korean mom-and-pop investors who poured $1.4 billion into the fund last month, based on figures from the Korea Securities Depository.