Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Up – Time to Buy?

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) gapped up prior to trading on Monday . The stock had previously closed at $17.85, but opened at $18.97. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $18.48, with a volume of 6,365,317 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 17.8%

The stock’s fifty day moving average price is $36.27 and its 200 day moving average price is $27.02. The stock has a market cap of $1.06 billion, a P/E ratio of 9.42 and a beta of 4.43.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP raised its position in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the third quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock valued at $5,541,000 after purchasing an additional 18,682 shares in the last quarter. Virtu Financial LLC boosted its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock worth $2,972,000 after purchasing an additional 20,986 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter valued at about $1,893,000. NWI Management LP bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter valued at about $3,566,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $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.