Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Should You Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $17.21, but opened at $14.31. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $13.90, with a volume of 23,125,535 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The stock’s 50-day simple moving average is $36.68 and its two-hundred day simple moving average is $27.01. The firm has a market capitalization of $1.12 billion, a P/E ratio of 9.42 and a beta of 4.43.

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

A number of institutional investors and hedge funds have recently bought and sold shares of KORU. Jane Street Group LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter worth about $1,893,000. Group One Trading LLC lifted its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after purchasing an additional 1,855 shares in the last quarter. Virtu Financial LLC boosted its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock worth $2,972,000 after purchasing an additional 20,986 shares during the period. Susquehanna International Group LLP boosted its stake in 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 purchasing an additional 18,682 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at approximately $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.