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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $760.70, but opened at $794.91. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $785.00, with a volume of 678,539 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 7.0%

The company’s 50 day moving average price is $513.65 and its 200 day moving average price is $354.95. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 9.42 and a beta of 4.17.

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

Several institutional investors and hedge funds have recently made changes to their positions in KORU. Jane Street Group LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the second quarter worth $1,893,000. Virtu Financial LLC lifted its stake 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 buying an additional 20,986 shares during the period. Susquehanna International Group LLP lifted its stake 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 buying an additional 18,682 shares during the period. Optiver Holding B.V. lifted its stake in shares of 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 worth $1,439,000 after buying an additional 10,942 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at $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.