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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) gapped down before the market opened on Thursday . The stock had previously closed at $24.20, but opened at $22.41. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $21.6750, with a volume of 9,440,193 shares changing hands.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 10.2%

The firm has a market cap of $1.81 billion, a P/E ratio of 9.42 and a beta of 4.58. The company’s 50-day moving average is $20.80 and its two-hundred day moving average is $27.61.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Hoey Investments Inc. bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF in the 1st quarter worth about $43,000. Tucker Asset Management LLC bought a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 4th quarter worth approximately $47,000. Group One Trading LLC boosted its stake in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 263.9% in the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock worth $207,000 after buying an additional 1,855 shares during the last quarter. NWI Management LP purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the 1st quarter worth approximately $3,566,000. Finally, Susquehanna International Group LLP grew its holdings in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 55.3% in the third 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.

About Direxion Daily MSCI South Korea Bull 3X ETF

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.