Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Up 9.6% – Time to Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price shot up 9.6% during trading on Wednesday . The company traded as high as $761.48 and last traded at $755.81. 591,164 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 785,708 shares. The stock had previously closed at $689.85.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The stock’s 50-day simple moving average is $505.92 and its 200 day simple moving average is $351.95. The company has a market capitalization of $2.35 billion, a PE ratio of 9.42 and a beta of 4.17.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Large investors have recently modified their holdings of the company. Hoey Investments Inc. purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter valued at $43,000. Tucker Asset Management LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at $47,000. Farther Finance Advisors LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at $34,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at $1,039,000. Finally, Sovereign Financial Group Inc. grew its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the 4th quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock valued at $739,000 after buying an additional 1,610 shares during the last quarter.

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.