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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $457.60, but opened at $484.56. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $498.5390, with a volume of 74,626 shares changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The company has a market capitalization of $697.64 million, a price-to-earnings ratio of 9.42 and a beta of 3.65. The firm has a fifty day moving average price of $284.39 and a 200-day moving average price of $179.71.

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

Several hedge funds have recently bought and sold shares of KORU. Jane Street Group LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter worth approximately $1,893,000. Group One Trading LLC raised its position in 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 valued at $207,000 after purchasing an additional 1,855 shares in the last quarter. Sovereign Financial Group Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the third quarter worth $260,000. Optiver Holding B.V. boosted its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% in the 3rd quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock valued at $1,439,000 after purchasing an additional 10,942 shares in the last quarter. Finally, Virtu Financial LLC boosted its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after purchasing an additional 20,986 shares in the last quarter.

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.