Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Up – Still a Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $700.01, but opened at $762.71. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $750.00, with a volume of 440,247 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 7.4%

The company has a fifty day simple moving average of $783.91 and a 200 day simple moving average of $478.92. The firm has a market capitalization of $2.17 billion, a P/E ratio of 9.42 and a beta of 4.38.

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

Large investors have recently modified their holdings of the stock. Susquehanna International Group LLP grew its position in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock valued at $5,541,000 after purchasing an additional 18,682 shares during the last quarter. Virtu Financial LLC increased its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after purchasing an additional 20,986 shares in the last quarter. Jane Street Group LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter worth about $1,893,000. Optiver Holding B.V. raised its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% in the third quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock worth $1,439,000 after buying an additional 10,942 shares during the last quarter. Finally, NWI Management LP purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter worth about $3,566,000.

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.