Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) Shares Gap Up – Should You Buy?

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU – Get Free Report)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $10.64, but opened at $12.48. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $12.1550, with a volume of 17,668,005 shares traded.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 4.9%

The company has a market capitalization of $985.45 million, a price-to-earnings ratio of 9.42 and a beta of 4.59. The firm has a 50-day simple moving average of $19.73 and a two-hundred day simple moving average of $27.35.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

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

About Direxion Daily MSCI South Korea Bull 3X ETF

(Get Free Report)

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.

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