Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Up 8.9% – Should You Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price shot up 8.9% on Tuesday . The stock traded as high as $801.35 and last traded at $772.80. 494,756 shares changed hands during trading, a decline of 38% from the average session volume of 793,540 shares. The stock had previously closed at $709.44.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 7.9%

The company’s 50 day moving average price is $657.75 and its two-hundred day moving average price is $421.04. The firm has a market cap of $1.88 billion, a PE ratio of 9.42 and a beta of 4.38.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth about $1,039,000. Optiver Holding B.V. grew its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% during the 3rd quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock valued at $1,439,000 after purchasing an additional 10,942 shares during the last quarter. Sovereign Financial Group Inc. grew its stake in 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. NWI Management LP bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth about $3,566,000. Finally, Susquehanna International Group LLP grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% in the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after acquiring an additional 18,682 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.