Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Should You Sell?

Shares of Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) gapped down prior to trading on Tuesday . The stock had previously closed at $1,088.62, but opened at $710.53. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $782.04, with a volume of 909,841 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Down 29.6%

The stock has a market cap of $2.21 billion, a price-to-earnings ratio of 9.42 and a beta of 4.38. The firm has a fifty day simple moving average of $777.79 and a 200-day simple moving average of $475.07.

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

Large investors have recently made changes to their positions in the company. NWI Management LP acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter worth about $3,566,000. Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter worth about $43,000. Tucker Asset Management LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $47,000. Farther Finance Advisors LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $34,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at about $1,039,000.

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.