Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Down – Here’s What Happened

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) shares gapped down prior to trading on Tuesday . The stock had previously closed at $713.82, but opened at $617.92. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $641.33, with a volume of 288,174 shares changing hands.

Direxion Daily MSCI South Korea Bull 3x Shares Price Performance

The stock has a market capitalization of $1.98 billion, a P/E ratio of 9.42 and a beta of 4.17. The company’s 50-day simple moving average is $482.63 and its 200-day simple moving average is $339.59.

Hedge Funds Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Several hedge funds and other institutional investors have recently modified their holdings of KORU. Hoey Investments Inc. bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter valued at approximately $43,000. Farther Finance Advisors LLC bought a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter valued at about $34,000. Tucker Asset Management LLC bought a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the fourth quarter worth $47,000. Sovereign Financial Group Inc. boosted its holdings in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% in the fourth quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock worth $739,000 after acquiring an additional 1,610 shares in the last quarter. Finally, Group One Trading LLC lifted its stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares by 263.9% in the second quarter. Group One Trading LLC now owns 2,558 shares of the company’s stock valued at $207,000 after buying an additional 1,855 shares in the last quarter.

Direxion Daily MSCI South Korea Bull 3x Shares 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.