Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Up – Time to Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped up prior to trading on Friday . The stock had previously closed at $469.00, but opened at $508.17. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $507.49, with a volume of 317,777 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The stock has a market capitalization of $1.87 billion, a P/E ratio of 9.42 and a beta of 3.58. The firm has a 50-day simple moving average of $398.55 and a 200 day simple moving average of $260.79.

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

Hedge funds have recently added to or reduced their stakes in the company. Optiver Holding B.V. grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 408.0% in the third quarter. Optiver Holding B.V. now owns 13,624 shares of the company’s stock valued at $1,439,000 after acquiring an additional 10,942 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $1,039,000. Sovereign Financial Group Inc. grew its stake 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 period. Group One Trading LLC grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after acquiring an additional 1,855 shares during the period. Finally, Virtu Financial LLC grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in 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 during the period.

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.