Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Gap Down – Time to Sell?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) shares gapped down prior to trading on Friday . The stock had previously closed at $20.41, but opened at $19.67. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $19.2950, with a volume of 7,320,945 shares.

Direxion Daily MSCI South Korea Bull 3X ETF Price Performance

The company has a market cap of $1.60 billion, a PE ratio of 9.42 and a beta of 4.58. The company’s 50 day simple moving average is $19.83 and its two-hundred day simple moving average is $27.25.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

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

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.