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 share price gapped up before the market opened on Monday . The stock had previously closed at $282.21, but opened at $301.19. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $297.19, with a volume of 401,493 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 8.4%

The stock has a market cap of $1.17 billion, a PE ratio of 9.42 and a beta of 3.65. The firm has a fifty day moving average of $388.75 and a 200 day moving average of $244.37.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth approximately $34,000. Tucker Asset Management LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $47,000. Group One Trading LLC boosted its stake in 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 valued at $207,000 after acquiring an additional 1,855 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the third quarter worth about $260,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth about $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.