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 $11.92, but opened at $10.90. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $11.3960, with a volume of 20,012,923 shares changing hands.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The business has a 50-day moving average price of $19.56 and a 200 day moving average price of $27.34. The stock has a market capitalization of $1.04 billion, a P/E ratio of 9.42 and a beta of 4.59.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter worth $43,000. Farther Finance Advisors LLC grew its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% in the third 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. Millennium Capital Advisors LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the third quarter worth $220,000. NWI Management LP purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter worth $3,566,000. Finally, Capstone Capital Management Ltd bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter valued at $2,579,000.

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.