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) gapped down before the market opened on Tuesday. The stock had previously closed at $15.74, but opened at $13.78. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $14.2990, with a volume of 19,476,070 shares trading hands.

Direxion Daily MSCI South Korea Bull 3X ETF Price Performance

The stock has a 50 day moving average price of $20.18 and a 200-day moving average price of $27.42. The stock has a market capitalization of $888.94 million, a P/E ratio of 9.42 and a beta of 4.59.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

Institutional investors have recently bought and sold shares of the stock. Hoey Investments Inc. bought a new position in Direxion Daily MSCI South Korea Bull 3X ETF during the 1st quarter worth approximately $43,000. Farther Finance Advisors LLC increased its stake in Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock worth $30,000 after purchasing an additional 1,444 shares during the period. Finally, NWI Management LP bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter valued at 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.