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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1,196.72, but opened at $978.82. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $965.00, with a volume of 282,619 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 15.8%

The firm has a market cap of $2.90 billion, a P/E ratio of 9.42 and a beta of 4.17. The company has a fifty day moving average price of $629.04 and a two-hundred day moving average price of $407.62.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Hedge funds and other institutional 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 Shares during the first quarter worth about $3,566,000. Hoey Investments Inc. acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at approximately $43,000. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $47,000. Farther Finance Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $34,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $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.