Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Time to Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $23.54, but opened at $19.98. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $19.81, with a volume of 18,047,215 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The company has a market capitalization of $1.60 billion, a P/E ratio of 9.42 and a beta of 4.51. The stock has a fifty day moving average of $27.91 and a 200 day moving average of $27.43.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in KORU. Jane Street Group LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter valued at about $1,893,000. Virtu Financial LLC increased its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock worth $2,972,000 after acquiring an additional 20,986 shares in the last quarter. Susquehanna International Group LLP raised its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after acquiring an additional 18,682 shares during the period. NWI Management LP bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter worth approximately $3,566,000. Finally, Group One Trading LLC raised its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after acquiring an additional 1,855 shares during the period.

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.