Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Trading 15% Higher – Should You Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s stock price rose 15% during mid-day trading on Wednesday . The company traded as high as $463.68 and last traded at $463.53. Approximately 2,576,325 shares traded hands during mid-day trading, an increase of 539% from the average daily volume of 403,326 shares. The stock had previously closed at $403.06.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Up 5.7%

The company has a market cap of $566.58 million, a PE ratio of 9.42 and a beta of 3.65. The company has a fifty day simple moving average of $341.27 and a two-hundred day simple moving average of $203.61.

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

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter worth approximately $1,893,000. Group One Trading LLC lifted its stake 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 valued at $207,000 after buying an additional 1,855 shares during the last quarter. Sovereign Financial Group Inc. acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the third quarter valued at approximately $260,000. Optiver Holding B.V. grew its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% during the third quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock worth $1,439,000 after acquiring an additional 10,942 shares during the last quarter. Finally, Virtu Financial LLC grew its position 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 worth $2,972,000 after acquiring an additional 20,986 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.