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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $21.60, but opened at $23.06. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $23.92, with a volume of 7,925,686 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Up 14.5%

The firm has a 50-day moving average of $28.14 and a 200 day moving average of $27.39. The company has a market cap of $2.06 billion, a P/E ratio of 9.42 and a beta of 4.51.

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

Several institutional investors have recently added to or reduced their stakes in KORU. Susquehanna International Group LLP increased its stake 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 acquiring an additional 18,682 shares in the last quarter. Virtu Financial LLC lifted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after acquiring an additional 20,986 shares during the period. NWI Management LP bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth $3,566,000. Hoey Investments Inc. bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth $43,000. Finally, Group One Trading LLC grew its holdings in 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 worth $207,000 after purchasing 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.