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)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $624.65, but opened at $539.39. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $540.48, with a volume of 725,987 shares changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The company has a market cap of $1.20 billion, a PE ratio of 9.42 and a beta of 4.43. The business’s 50-day moving average is $820.69 and its 200 day moving average is $512.18.

Direxion Daily MSCI South Korea Bull 3x Shares shares are set to split on the morning of Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, July 14th.

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

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 2nd quarter worth approximately $1,893,000. Group One Trading LLC boosted its stake in shares of 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 during the period. Virtu Financial LLC boosted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the third 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 during the period. Susquehanna International Group LLP grew its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% in the third quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after purchasing an additional 18,682 shares during the last quarter. Finally, Sovereign Financial Group Inc. grew its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the fourth 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 during 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.