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

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

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The firm has a market capitalization of $1.81 billion, a PE ratio of 9.42 and a beta of 4.38. The company’s 50-day moving average price is $673.84 and its 200-day moving average price is $428.40.

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

Several institutional investors have recently modified their holdings of KORU. Farther Finance Advisors LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $34,000. Hoey Investments Inc. purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter worth $43,000. Tucker Asset Management LLC purchased a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth $47,000. Group One Trading LLC lifted its position in shares of 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 purchasing an additional 1,855 shares during the last quarter. Finally, Sovereign Financial Group Inc. lifted its position in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock valued at $739,000 after acquiring an additional 1,610 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.