Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Shares Gap Up – Should You Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $419.19, but opened at $459.17. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $456.00, with a volume of 1,318,694 shares traded.

Direxion Daily MSCI South Korea Bull 3x Shares Trading Up 9.6%

The company has a 50 day moving average of $819.32 and a 200 day moving average of $525.49. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 9.42 and a beta of 4.43.

Direxion Daily MSCI South Korea Bull 3x Shares’s stock is scheduled to split on Wednesday, July 15th. The 20-1 split was announced on Wednesday, June 10th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, July 14th.

Institutional Investors Weigh In On Direxion Daily MSCI South Korea Bull 3x Shares

Large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of Direxion Daily MSCI South Korea Bull 3x Shares during the 2nd quarter worth about $1,893,000. Group One Trading LLC boosted its position in 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. Virtu Financial LLC grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 292.8% during the third quarter. Virtu Financial LLC now owns 28,154 shares of the company’s stock worth $2,972,000 after buying an additional 20,986 shares during the last quarter. Susquehanna International Group LLP grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the third quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after buying an additional 18,682 shares during the last quarter. Finally, Sovereign Financial Group Inc. increased its holdings in shares of 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 buying an additional 1,610 shares in 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.