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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) gapped down prior to trading on Thursday . The stock had previously closed at $18.44, but opened at $16.04. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $16.89, with a volume of 14,806,101 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 9.42 and a beta of 4.51. The stock’s 50 day moving average price is $33.05 and its two-hundred day moving average price is $27.18.

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

Institutional investors and hedge funds have recently bought and sold shares of the stock. Susquehanna International Group LLP raised its holdings 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 valued at $5,541,000 after acquiring an additional 18,682 shares in the last quarter. Virtu Financial LLC boosted its position in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in the third quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after buying an additional 20,986 shares in the last quarter. Jane Street Group LLC acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter valued at $1,893,000. NWI Management LP bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at about $3,566,000. Finally, Group One Trading LLC grew its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after purchasing an additional 1,855 shares during the last quarter.

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.