Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Should You Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $375.87, but opened at $342.84. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $397.80, with a volume of 881,068 shares changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The company has a market capitalization of $529.43 million, a price-to-earnings ratio of 9.42 and a beta of 3.65. The firm has a 50-day moving average price of $379.25 and a two-hundred day moving average price of $225.06.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

A number of large investors have recently bought and sold shares of KORU. Farther Finance Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth approximately $34,000. Tucker Asset Management LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter worth $47,000. Group One Trading LLC boosted its holdings in 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 worth $207,000 after purchasing an additional 1,855 shares during the last quarter. Sovereign Financial Group Inc. acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the third quarter worth $260,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $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.