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

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) gapped up before the market opened on Monday . The stock had previously closed at $282.21, but opened at $301.19. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $297.19, with a volume of 401,493 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 8.4%

The business’s 50-day simple moving average is $388.75 and its two-hundred day simple moving average is $244.37. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.42 and a beta of 3.65.

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

Several institutional investors have recently added to or reduced their stakes in KORU. Farther Finance Advisors LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth $34,000. Tucker Asset Management LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at $47,000. Group One Trading LLC lifted its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after acquiring an additional 1,855 shares in the last quarter. Sovereign Financial Group Inc. purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 3rd quarter valued at about $260,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $1,039,000.

Direxion Daily MSCI South Korea Bull 3x Shares 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.