Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Up 15% – Should You Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price rose 15% on Wednesday . The company traded as high as $463.68 and last traded at $463.53. Approximately 2,576,325 shares were traded during trading, an increase of 539% from the average daily volume of 403,326 shares. The stock had previously closed at $403.06.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The stock has a market capitalization of $453.54 million, a P/E ratio of 9.42 and a beta of 3.65. The stock’s fifty day moving average is $349.82 and its 200-day moving average is $206.09.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at approximately $34,000. Tucker Asset Management LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at approximately $47,000. Sovereign Financial Group Inc. bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the third quarter valued at approximately $260,000. Group One Trading LLC lifted its stake in shares of 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 buying an additional 1,855 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $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.