Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Here’s Why

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $713.82, but opened at $617.92. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $641.33, with a volume of 288,174 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The company has a market cap of $2.19 billion, a P/E ratio of 9.42 and a beta of 4.17. The firm has a 50 day moving average price of $496.62 and a two-hundred day moving average price of $347.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hoey Investments Inc. bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter worth $43,000. Farther Finance Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $34,000. Tucker Asset Management LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $47,000. Group One Trading LLC grew its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the 2nd 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, Sovereign Financial Group Inc. grew its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during 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 during the period.

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.