Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Up – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares gapped up prior to trading on Monday . The stock had previously closed at $541.43, but opened at $625.63. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $638.92, with a volume of 356,910 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 12.8%

The company has a 50 day moving average of $821.06 and a two-hundred day moving average of $515.03. The firm has a market cap of $1.27 billion, a P/E ratio of 9.42 and a beta of 4.43.

Direxion Daily MSCI South Korea Bull 3x Shares shares are set to split on the morning of Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly issued shares will be distributed to shareholders after the closing bell on Tuesday, July 14th.

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

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

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.