Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – What’s Next?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) gapped down prior to trading on Tuesday . The stock had previously closed at $1,088.62, but opened at $710.53. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $782.04, with a volume of 909,841 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 5.9%

The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 9.42 and a beta of 4.38. The business’s fifty day moving average is $790.46 and its two-hundred day moving average is $483.10.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth $34,000. Hoey Investments Inc. purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at $43,000. Tucker Asset Management LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $47,000. Group One Trading LLC grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the 2nd 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 in the last quarter. Finally, Sovereign Financial Group Inc. grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after purchasing an additional 1,610 shares in 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.