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

Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU)’s share price gapped down prior to trading on Wednesday. The stock had previously closed at $21.01, but opened at $19.60. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $19.3780, with a volume of 9,725,463 shares changing hands.

Direxion Daily MSCI South Korea Bull 3X ETF Stock Down 4.2%

The firm has a market cap of $1.34 billion, a PE ratio of 9.42 and a beta of 4.59. The business has a 50 day simple moving average of $20.14 and a two-hundred day simple moving average of $27.44.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Direxion Daily MSCI South Korea Bull 3X ETF stock. Hoey Investments Inc. acquired a new stake in Direxion Daily MSCI South Korea Bull 3X ETF (NYSEARCA:KORU) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 150 shares of the company’s stock, valued at approximately $43,000.

Direxion Daily MSCI South Korea Bull 3X ETF 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.