Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Here’s Why

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares gapped down prior to trading on Wednesday . The stock had previously closed at $21.73, but opened at $19.87. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $20.79, with a volume of 10,405,726 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The company’s 50 day simple moving average is $38.40 and its 200 day simple moving average is $26.76. The company has a market capitalization of $1.58 billion, a PE ratio of 9.42 and a beta of 4.43.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Several hedge funds and other institutional investors have recently bought and sold shares of KORU. Jane Street Group LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter valued at $1,893,000. Group One Trading LLC grew its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after purchasing an additional 1,855 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the third quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock worth $2,972,000 after purchasing an additional 20,986 shares during the last quarter. Susquehanna International Group LLP increased its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the third quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after purchasing an additional 18,682 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth about $1,039,000.

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.