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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) gapped down prior to trading on Thursday. The stock had previously closed at $10.43, but opened at $8.92. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $8.1840, with a volume of 30,690,527 shares trading hands.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 30.9%

The stock’s 50 day moving average is $17.67 and its 200 day moving average is $24.22. The stock has a market capitalization of $718.14 million, a price-to-earnings ratio of 9.42 and a beta of 4.85.

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

A number of institutional investors and hedge funds have recently bought and sold shares of KORU. Capstone Capital Management Ltd acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the third quarter valued at $2,579,000. StoneX Group Inc. purchased a new stake in Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter worth about $349,000. NWI Management LP purchased a new stake in Direxion Daily MSCI South Korea Bull 3X ETF during the 1st quarter worth about $3,566,000. Millennium Capital Advisors LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF in the 3rd quarter valued at about $220,000. Finally, Vestor Capital LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF in the 3rd quarter valued at about $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.