Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Trading 8.2% Higher – Still a Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price traded up 8.2% during trading on Thursday . The company traded as high as $22.00 and last traded at $21.98. Approximately 17,217,994 shares were traded during mid-day trading, a decline of 17% from the average session volume of 20,817,289 shares. The stock had previously closed at $20.32.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The stock has a market cap of $1.80 billion, a P/E ratio of 9.42 and a beta of 4.51. The firm’s 50 day moving average is $28.95 and its 200 day moving average is $27.31.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KORU. Jane Street Group LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 2nd quarter valued at about $1,893,000. Group One Trading LLC grew 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 acquiring an additional 1,855 shares during the period. Virtu Financial LLC raised its position in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the third quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after acquiring an additional 20,986 shares in the last quarter. 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 acquiring an additional 18,682 shares in the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $34,000.

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.