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 stock price gapped up prior to trading on Thursday . The stock had previously closed at $760.70, but opened at $794.91. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $785.00, with a volume of 678,539 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Up 6.7%

The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 9.42 and a beta of 4.17. The stock’s 50-day simple moving average is $496.62 and its 200 day simple moving average is $347.32.

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

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth approximately $34,000. Hoey Investments Inc. acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter worth approximately $43,000. Tucker Asset Management LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth approximately $47,000. Group One Trading LLC lifted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after purchasing an additional 1,855 shares in the last quarter. Finally, Sovereign Financial Group Inc. lifted its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after purchasing an additional 1,610 shares in the last quarter.

About Direxion Daily MSCI South Korea Bull 3x Shares

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.