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)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $624.65, but opened at $539.39. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $540.48, with a volume of 725,987 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The company has a 50 day simple moving average of $821.10 and a 200-day simple moving average of $517.89. The firm has a market cap of $1.40 billion, a PE ratio of 9.42 and a beta of 4.43.

Direxion Daily MSCI South Korea Bull 3x Shares shares are scheduled to split before the market opens on Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, July 14th.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna International Group LLP lifted its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% in the third quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after purchasing an additional 18,682 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after acquiring an additional 20,986 shares during the last quarter. Jane Street Group LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter valued at about $1,893,000. NWI Management LP purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter valued at about $3,566,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $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.