Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Gap Down – Time to Sell?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) gapped down prior to trading on Tuesday. The stock had previously closed at $11.92, but opened at $10.90. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $11.3960, with a volume of 20,012,923 shares traded.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The stock has a market cap of $992.05 million, a price-to-earnings ratio of 9.42 and a beta of 4.59. The company’s 50 day simple moving average is $19.86 and its two-hundred day simple moving average is $27.38.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hoey Investments Inc. bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 1st quarter valued at $43,000. Farther Finance Advisors LLC lifted its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock valued at $30,000 after purchasing an additional 1,444 shares during the last quarter. Millennium Capital Advisors LLC bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the third quarter worth $220,000. Finally, NWI Management LP bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the first quarter worth $3,566,000.

Direxion Daily MSCI South Korea Bull 3X ETF 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.