Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Gap Down – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) gapped down before the market opened on Tuesday. The stock had previously closed at $15.74, but opened at $13.78. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $14.2990, with a volume of 19,476,070 shares.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The stock has a fifty day simple moving average of $20.38 and a two-hundred day simple moving average of $27.44. The stock has a market cap of $900.21 million, a price-to-earnings ratio of 9.42 and a beta of 4.59.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

A number of institutional investors have recently added to or reduced their stakes in the stock. NWI Management LP acquired a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter valued at approximately $3,566,000. Farther Finance Advisors LLC increased its holdings in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% during the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock worth $30,000 after buying an additional 1,444 shares in the last quarter. Finally, Hoey Investments Inc. acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the first quarter worth $43,000.

Direxion Daily MSCI South Korea Bull 3X ETF 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.