Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Here’s Why

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) gapped down prior to trading on Thursday . The stock had previously closed at $375.87, but opened at $342.84. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $397.80, with a volume of 881,068 shares changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The firm’s 50-day simple moving average is $379.25 and its 200 day simple moving average is $225.06. The company has a market cap of $529.43 million, a P/E ratio of 9.42 and a beta of 3.65.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KORU. 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 approximately $34,000. Tucker Asset Management LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter valued at approximately $47,000. Sovereign Financial Group Inc. grew its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock valued at $739,000 after purchasing an additional 1,610 shares during the period. Group One Trading LLC increased its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second 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 in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $1,039,000.

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.