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) shares gapped down before the market opened on Thursday. The stock had previously closed at $8.54, but opened at $7.65. Direxion Daily MSCI South Korea Bull 3X ETF shares last traded at $7.7680, with a volume of 20,653,646 shares traded.

Direxion Daily MSCI South Korea Bull 3X ETF Trading Down 4.8%

The company has a fifty day moving average of $16.35 and a 200-day moving average of $24.04. The company has a market capitalization of $805.58 million, a price-to-earnings ratio of 9.42 and a beta of 4.85.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3X ETF

Several hedge funds and other institutional investors have recently bought and sold shares of KORU. Farther Finance Advisors LLC boosted its stake in Direxion Daily MSCI South Korea Bull 3X ETF by 1,900.0% during the third quarter. Farther Finance Advisors LLC now owns 1,520 shares of the company’s stock worth $30,000 after buying an additional 1,444 shares during the period. Parallel Advisors LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF in the 3rd quarter worth approximately $36,000. SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 1,696.2% during the 3rd quarter. SBI Securities Co. Ltd. now owns 4,203 shares of the company’s stock worth $84,000 after purchasing an additional 3,969 shares during the period. Hoey Investments Inc. boosted its position in shares of Direxion Daily MSCI South Korea Bull 3X ETF by 2,271.4% during the 3rd quarter. Hoey Investments Inc. now owns 4,150 shares of the company’s stock worth $83,000 after purchasing an additional 3,975 shares during the period. Finally, Vestor Capital LLC purchased a new position in shares of Direxion Daily MSCI South Korea Bull 3X ETF during the 3rd quarter worth approximately $136,000.

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.