Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Up 6.8% – Still a Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares shot up 6.8% on Thursday . The company traded as high as $890.00 and last traded at $792.00. 491,511 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 835,027 shares. The stock had previously closed at $741.28.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 10.9%

The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 9.42 and a beta of 4.38. The company has a fifty day simple moving average of $803.62 and a 200-day simple moving average of $489.57.

Shares of Direxion Daily MSCI South Korea Bull 3x Shares are going to split on the morning of Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly issued shares will be issued to shareholders after the closing bell on Tuesday, July 14th.

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

A number of large investors have recently made changes to their positions in KORU. Farther Finance Advisors LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at approximately $34,000. Hoey Investments Inc. purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter worth approximately $43,000. Tucker Asset Management LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth approximately $47,000. Group One Trading LLC raised its stake in 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 valued at $207,000 after purchasing an additional 1,855 shares during the period. Finally, Sovereign Financial Group Inc. raised its stake in 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 valued at $739,000 after purchasing 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.