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 Tuesday . The stock had previously closed at $18.76, but opened at $20.34. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $20.58, with a volume of 7,732,994 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The stock’s 50-day moving average is $24.84 and its 200 day moving average is $27.53. The stock has a market capitalization of $1.71 billion, a PE ratio of 9.42 and a beta of 4.51.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3x Shares

Several institutional investors and hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP boosted its position 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 valued at $5,541,000 after purchasing an additional 18,682 shares during the period. Virtu Financial LLC increased its position in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the third 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 period. NWI Management LP purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at approximately $3,566,000. Hoey Investments Inc. purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at approximately $43,000. Finally, Group One Trading LLC boosted its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after acquiring an additional 1,855 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.