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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $16.41, but opened at $17.61. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $17.50, with a volume of 9,279,544 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Up 7.4%

The business has a 50 day moving average of $30.61 and a two-hundred day moving average of $27.25. The firm has a market cap of $1.47 billion, a P/E ratio of 9.42 and a beta of 4.51.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Hoey Investments Inc. bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at approximately $43,000. Farther Finance Advisors LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $34,000. Tucker Asset Management LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at $47,000. Group One Trading LLC raised its holdings in 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 valued at $207,000 after acquiring an additional 1,855 shares in the last quarter. Finally, NWI Management LP bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter valued at $3,566,000.

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.