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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) gapped up prior to trading on Friday. The stock had previously closed at $21.09, but opened at $22.74. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $23.1820, with a volume of 7,597,953 shares trading hands.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Up 7.1%

The business has a fifty day simple moving average of $19.78 and a two-hundred day simple moving average of $27.37. The company has a market cap of $1.50 billion, a PE ratio of 9.42 and a beta of 4.59.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3X ETF

An institutional investor recently bought a new position in Direxion Daily MSCI South Korea Bull 3X ETF stock. Hoey Investments Inc. acquired a new stake in Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 150 shares of the company’s stock, valued at approximately $43,000.

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.