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 Tuesday . The stock had previously closed at $16.41, but opened at $17.61. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $17.50, with a volume of 9,279,544 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The company’s 50-day moving average is $30.61 and its two-hundred day moving average is $27.25. The firm has a market cap of $1.47 billion, a P/E ratio of 9.42 and a beta of 4.51.

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

Several hedge funds and other institutional investors have recently made changes to their positions in KORU. Hoey Investments Inc. bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter worth approximately $43,000. Farther Finance Advisors LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $34,000. Tucker Asset Management LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $47,000. Group One Trading LLC raised its position 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 valued at $207,000 after purchasing an additional 1,855 shares in the last quarter. Finally, NWI Management LP acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter valued at approximately $3,566,000.

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.