Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Up – Should You Buy?

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) gapped up prior to trading on Monday . The stock had previously closed at $824.88, but opened at $957.50. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $957.14, with a volume of 251,884 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 8.0%

The company has a 50-day moving average price of $722.45 and a two-hundred day moving average price of $449.69. The stock has a market capitalization of $2.65 billion, a P/E ratio of 9.42 and a beta of 4.38.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth about $34,000. Hoey Investments Inc. bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth about $43,000. Tucker Asset Management LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth about $47,000. Group One Trading LLC raised its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after acquiring an additional 1,855 shares in the last quarter. Finally, Sovereign Financial Group Inc. raised its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the 4th quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after acquiring an additional 1,610 shares in the last quarter.

About Direxion Daily MSCI South Korea Bull 3x Shares

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.