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

Shares of 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 traded.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The firm has a market cap of $900.21 million, a price-to-earnings ratio of 9.42 and a beta of 4.59. The business has a fifty day simple moving average of $20.38 and a 200-day simple moving average of $27.44.

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

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC grew its holdings in Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock worth $30,000 after acquiring an additional 1,444 shares during the last quarter. NWI Management LP acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF in the 1st quarter valued at approximately $3,566,000. Finally, Hoey Investments Inc. acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF in the 1st quarter valued at approximately $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.