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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $316.32, but opened at $366.89. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $378.91, with a volume of 552,488 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 17.4%

The stock has a fifty day moving average of $370.31 and a 200-day moving average of $219.66. The stock has a market cap of $493.96 million, a PE ratio of 9.42 and a beta of 3.65.

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

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 2nd quarter valued at $1,893,000. Virtu Financial LLC raised its position 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 worth $2,972,000 after buying an additional 20,986 shares during the last quarter. Susquehanna International Group LLP lifted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% in the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after acquiring an additional 18,682 shares during the period. Optiver Holding B.V. boosted its holdings in shares of 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 valued at $1,439,000 after acquiring an additional 10,942 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at about $1,039,000.

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.