Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – What’s Next?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $375.87, but opened at $342.84. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $397.80, with a volume of 881,068 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The firm has a 50-day simple moving average of $383.88 and a 200 day simple moving average of $227.94. The company has a market capitalization of $426.90 million, a PE ratio of 9.42 and a beta of 3.65.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Optiver Holding B.V. grew its position in Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% in the third quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock valued at $1,439,000 after acquiring an additional 10,942 shares in the last quarter. Group One Trading LLC lifted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the second 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. Susquehanna International Group LLP lifted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the third 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 in the last quarter. Sovereign Financial Group Inc. boosted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock valued at $739,000 after purchasing an additional 1,610 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at $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.