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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) shares gapped up before the market opened on Monday. The stock had previously closed at $10.63, but opened at $11.75. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $11.5760, with a volume of 12,395,887 shares.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Up 6.2%

The stock has a market cap of $1.10 billion, a PE ratio of 9.42 and a beta of 4.85. The business’s fifty day moving average is $17.88 and its 200 day moving average is $24.24.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Capstone Capital Management Ltd bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the 3rd quarter valued at about $2,579,000. StoneX Group Inc. acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter worth $349,000. NWI Management LP acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF during the first quarter valued at approximately $3,566,000. Millennium Capital Advisors LLC bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter worth $220,000. Finally, Vestor Capital LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter worth approximately $136,000.

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.