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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares gapped up prior to trading on Tuesday . The stock had previously closed at $419.19, but opened at $459.17. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $456.00, with a volume of 1,318,694 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The stock has a 50-day moving average of $819.32 and a 200 day moving average of $525.49. The firm has a market capitalization of $1.25 billion, a P/E ratio of 9.42 and a beta of 4.43.

Direxion Daily MSCI South Korea Bull 3x Shares’s stock is set to split on Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly minted shares will be distributed to shareholders after the market closes on Tuesday, July 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP increased its position in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% in the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock valued at $5,541,000 after acquiring an additional 18,682 shares in the last quarter. Virtu Financial LLC grew its holdings in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% in the 3rd quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock valued at $2,972,000 after buying an additional 20,986 shares during the period. Jane Street Group LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 2nd quarter valued at $1,893,000. NWI Management LP bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter valued at $3,566,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at $1,039,000.

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.