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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares gapped up prior to trading on Monday . The stock had previously closed at $17.85, but opened at $18.97. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $18.48, with a volume of 6,365,317 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 9.2%

The firm’s 50-day moving average price is $37.05 and its 200-day moving average price is $26.97. The company has a market cap of $1.21 billion, a P/E ratio of 9.42 and a beta of 4.43.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter valued at $43,000. Farther Finance Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth $34,000. Tucker Asset Management LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth $47,000. Group One Trading LLC boosted its holdings in shares of 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 worth $207,000 after acquiring an additional 1,855 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $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.