Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Gap Up – Should You Buy?

Shares of Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) gapped up before the market opened on Monday. The stock had previously closed at $10.63, but opened at $11.75. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $11.5760, with a volume of 12,395,887 shares.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Up 7.9%

The company has a market cap of $1.20 billion, a PE ratio of 9.42 and a beta of 4.59. The firm’s 50-day simple moving average is $18.23 and its two-hundred day simple moving average is $24.25.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of KORU. Hoey Investments Inc. acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 1st quarter valued at about $43,000. Farther Finance Advisors LLC grew its position in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% during the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock worth $30,000 after buying an additional 1,444 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,696.2% during the third quarter. SBI Securities Co. Ltd. now owns 4,203 shares of the company’s stock worth $84,000 after buying an additional 3,969 shares during the period. Millennium Capital Advisors LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3X ETF in the third quarter worth approximately $220,000. Finally, NWI Management LP purchased a new position in Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter worth approximately $3,566,000.

Direxion Daily MSCI South Korea Bull 3X ETF 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.