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 changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The stock has a fifty day moving average price of $398.55 and a two-hundred day moving average price of $260.79. The company has a market cap of $1.87 billion, a P/E ratio of 9.42 and a beta of 3.58.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $34,000. 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 approximately $47,000. Sovereign Financial Group Inc. lifted its holdings in shares of 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 purchasing an additional 1,610 shares in the last quarter. Group One Trading LLC lifted its holdings in shares of 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 purchasing an additional 1,855 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the fourth quarter valued at approximately $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.