Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Should You Sell?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $781.35, but opened at $643.58. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $651.25, with a volume of 648,423 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 9.8%

The stock has a fifty day moving average of $818.03 and a two-hundred day moving average of $506.04. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 9.42 and a beta of 4.43.

Shares of Direxion Daily MSCI South Korea Bull 3x Shares are going to split on Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, July 14th.

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

A number of large investors have recently made changes to their positions in KORU. Hoey Investments Inc. purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the first quarter valued at about $43,000. Farther Finance Advisors LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at approximately $34,000. Tucker Asset Management LLC purchased a new position in Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at approximately $47,000. Sovereign Financial Group Inc. raised its holdings in 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 during the last quarter. Finally, Group One Trading LLC raised its holdings in 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 during 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.