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 share price gapped up prior to trading on Friday . The stock had previously closed at $469.00, but opened at $508.17. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $507.49, with a volume of 317,777 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The stock has a market cap of $1.85 billion, a P/E ratio of 9.42 and a beta of 3.58. The company has a fifty day moving average of $401.60 and a 200 day moving average of $264.74.

Institutional Trading of Direxion Daily MSCI South Korea Bull 3x Shares

Hedge funds and other institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $34,000. Tucker Asset Management LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth about $47,000. Sovereign Financial Group Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the third quarter worth about $260,000. Group One Trading LLC raised its position 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 acquiring an additional 1,855 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at about $1,039,000.

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.