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 changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The firm’s 50-day moving average price is $814.32 and its 200 day moving average price is $500.20. The firm has a market cap of $1.86 billion, a P/E ratio of 9.42 and a beta of 4.38.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Hoey Investments Inc. acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 1st quarter worth approximately $43,000. Farther Finance Advisors LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter valued at approximately $34,000. Tucker Asset Management LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at approximately $47,000. Group One Trading LLC raised its position in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% during the 2nd quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after acquiring an additional 1,855 shares in the last quarter. Finally, Sovereign Financial Group Inc. lifted its stake 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.

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.