Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – What’s Next?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped down prior to trading on Monday . The stock had previously closed at $557.00, but opened at $437.89. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $434.00, with a volume of 784,688 shares.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The stock has a 50-day moving average price of $822.69 and a 200-day moving average price of $523.66. The company has a market capitalization of $1.23 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 before the market opens on Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, July 14th.

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

Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at $34,000. Hoey Investments Inc. bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth about $43,000. Tucker Asset Management LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at about $47,000. Group One Trading LLC lifted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after purchasing an additional 1,855 shares during the period. Finally, Sovereign Financial Group Inc. boosted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock valued at $739,000 after purchasing an additional 1,610 shares in the last quarter.

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.