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) gapped up before the market opened on Monday . The stock had previously closed at $21.60, but opened at $23.06. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $23.92, with a volume of 7,925,686 shares changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Up 14.5%

The stock’s 50-day moving average price is $28.14 and its 200-day moving average price is $27.39. The company has a market cap of $2.06 billion, a P/E ratio of 9.42 and a beta of 4.51.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at approximately $43,000. Farther Finance Advisors LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at approximately $34,000. Tucker Asset Management LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at approximately $47,000. Group One Trading LLC raised its position 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 period. Finally, NWI Management LP acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth approximately $3,566,000.

Direxion Daily MSCI South Korea Bull 3x Shares Company Profile

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.