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

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) gapped up before the market opened on Thursday . The stock had previously closed at $760.70, but opened at $794.91. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $785.00, with a volume of 678,539 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 6.7%

The stock’s 50-day moving average price is $496.62 and its 200-day moving average price is $347.32. The company has a market capitalization of $2.34 billion, a price-to-earnings ratio of 9.42 and a beta of 4.17.

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

Several large investors have recently bought and sold shares of the business. Hoey Investments Inc. acquired a new position in 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 during the fourth quarter worth $47,000. Farther Finance Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth $34,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth $1,039,000. Finally, Sovereign Financial Group Inc. grew its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after purchasing an additional 1,610 shares during the period.

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.