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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU)’s stock price gapped up prior to trading on Friday. The stock had previously closed at $20.14, but opened at $21.27. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $21.1480, with a volume of 7,138,533 shares traded.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Up 4.3%

The firm has a market capitalization of $1.29 billion, a P/E ratio of 9.42 and a beta of 4.58. The stock has a 50 day simple moving average of $19.72 and a 200-day simple moving average of $27.27.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3X ETF

An institutional investor recently bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF stock. NWI Management LP acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,552 shares of the company’s stock, valued at approximately $3,566,000. NWI Management LP owned approximately 0.44% of Direxion Daily MSCI South Korea Bull 3X ETF at the end of the most recent reporting period.

About Direxion Daily MSCI South Korea Bull 3X ETF

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.