Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Trading 13.3% Higher – Still a Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shot up 13.3% during mid-day trading on Tuesday . The company traded as high as $353.41 and last traded at $352.49. 169,869 shares changed hands during mid-day trading, an increase of 10% from the average session volume of 154,505 shares. The stock had previously closed at $310.99.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The firm’s fifty day simple moving average is $195.94 and its 200 day simple moving average is $140.86. The firm has a market cap of $451.19 million, a P/E ratio of 9.42 and a beta of 3.65.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KORU. Farther Finance Advisors LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth approximately $34,000. Sovereign Financial Group Inc. purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the third quarter valued at $260,000. Group One Trading LLC increased its position in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in 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. Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at $1,039,000. Finally, Optiver Holding B.V. raised its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% during the third quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock valued at $1,439,000 after purchasing an additional 10,942 shares in the last quarter.

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.