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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU)’s share price gapped up before the market opened on Friday. The stock had previously closed at $20.14, but opened at $21.27. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $21.1480, with a volume of 7,138,533 shares changing hands.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The firm has a market cap of $1.29 billion, a P/E ratio of 9.42 and a beta of 4.58. The business’s 50-day simple moving average is $19.72 and its 200 day simple moving average is $27.27.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

An institutional investor recently bought a new position in Direxion Daily MSCI South Korea Bull 3X ETF stock. NWI Management LP acquired a new position in Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 12,552 shares of the company’s stock, valued at approximately $3,566,000. NWI Management LP owned 0.44% of Direxion Daily MSCI South Korea Bull 3X ETF at the end of the most recent reporting period.

Direxion Daily MSCI South Korea Bull 3X ETF 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.