Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Stock Jumps 13.9% – Should You Buy?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU)’s stock price was up 13.9% on Wednesday. The company traded as high as $13.36 and last traded at $13.5030. 14,630,376 shares changed hands during mid-day trading, a decline of 34% from the average session volume of 22,263,510 shares. The stock had previously closed at $11.86.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Up 13.6%

The company has a market cap of $1.52 billion, a price-to-earnings ratio of 9.42 and a beta of 4.59. The business has a fifty day moving average price of $18.64 and a two-hundred day moving average price of $24.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. NWI Management LP bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 1st quarter worth about $3,566,000. Capstone Capital Management Ltd acquired a new stake in Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter valued at $2,579,000. Millennium Capital Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the third quarter valued at about $220,000. SBI Securities Co. Ltd. raised its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,696.2% in the third quarter. SBI Securities Co. Ltd. now owns 4,203 shares of the company’s stock worth $84,000 after acquiring an additional 3,969 shares during the last quarter. Finally, Hoey Investments Inc. acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter valued at approximately $43,000.

Direxion Daily MSCI South Korea Bull 3X ETF 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.