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

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $20.96, but opened at $20.02. Direxion Daily MSCI South Korea Bull 3x Shares shares last traded at $20.08, with a volume of 7,325,531 shares trading hands.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Down 7.3%

The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 9.42 and a beta of 4.51. The company has a 50 day simple moving average of $22.83 and a 200 day simple moving average of $27.59.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna International Group LLP grew its position in Direxion Daily MSCI South Korea Bull 3x Shares by 55.3% during the 3rd quarter. Susquehanna International Group LLP now owns 52,480 shares of the company’s stock worth $5,541,000 after acquiring an additional 18,682 shares during the last quarter. Virtu Financial LLC lifted its holdings in shares of 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 purchasing an additional 20,986 shares during the period. Jane Street Group LLC acquired a new position in shares of Direxion Daily MSCI South Korea Bull 3x Shares in the second quarter worth approximately $1,893,000. NWI Management LP acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 1st quarter valued at approximately $3,566,000. Finally, Group One Trading LLC increased its position in 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 purchasing an additional 1,855 shares during the period.

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.