Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Up 8.9% – Should You Buy?

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) were up 8.9% during trading on Tuesday . The company traded as high as $801.35 and last traded at $772.80. Approximately 494,756 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 793,540 shares. The stock had previously closed at $709.44.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The stock’s 50 day simple moving average is $657.75 and its 200 day simple moving average is $421.04. The firm has a market capitalization of $1.88 billion, a P/E ratio of 9.42 and a beta of 4.38.

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

Several hedge funds have recently modified their holdings of the business. NWI Management LP purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth approximately $3,566,000. Hoey Investments Inc. purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth approximately $43,000. Tucker Asset Management LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth approximately $47,000. Farther Finance Advisors LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth approximately $34,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth approximately $1,039,000.

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.