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

Shares of Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) gapped up prior to trading on Friday . The stock had previously closed at $21.17, but opened at $23.50. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $22.9220, with a volume of 8,947,508 shares trading hands.

Direxion Daily MSCI South Korea Bull 3X ETF Price Performance

The stock has a market cap of $1.92 billion, a PE ratio of 9.42 and a beta of 4.58. The business has a 50 day moving average price of $20.68 and a two-hundred day moving average price of $27.58.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

Institutional investors have recently added to or reduced their stakes in the company. Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the 1st quarter worth $43,000. Tucker Asset Management LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the fourth quarter valued at about $47,000. Group One Trading LLC raised its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 263.9% during the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after acquiring an additional 1,855 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the second quarter worth about $1,893,000. Finally, Virtu Financial LLC boosted its holdings in shares of Direxion Daily MSCI South Korea Bull 3X ETF 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 purchasing an additional 20,986 shares during the period.

About Direxion Daily MSCI South Korea Bull 3X ETF

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.