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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) shares gapped down before the market opened on Tuesday. The stock had previously closed at $11.92, but opened at $10.90. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $11.3960, with a volume of 20,012,923 shares.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Performance

The stock has a 50 day moving average of $19.86 and a two-hundred day moving average of $27.38. The firm has a market capitalization of $992.05 million, a P/E ratio of 9.42 and a beta of 4.59.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

A number of hedge funds have recently bought and sold shares of KORU. Millennium Capital Advisors LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the third quarter valued at about $220,000. Farther Finance Advisors LLC lifted its position in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock worth $30,000 after purchasing an additional 1,444 shares during the last quarter. NWI Management LP acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 1st quarter worth about $3,566,000. Finally, Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF during the 1st quarter valued at approximately $43,000.

About Direxion Daily MSCI South Korea Bull 3X ETF

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.