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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $18.44, but opened at $16.04. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $16.89, with a volume of 14,806,101 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The firm’s fifty day simple moving average is $31.55 and its 200 day simple moving average is $27.13. The stock has a market capitalization of $1.45 billion, a P/E ratio of 9.42 and a beta of 4.51.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hoey Investments Inc. acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter valued at approximately $43,000. Farther Finance Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at $34,000. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at $47,000. Group One Trading LLC increased its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after purchasing an additional 1,855 shares during the last quarter. Finally, NWI Management LP bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter valued at $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.