Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU) Trading Up 14.5% – Still a Buy?

Direxion Daily MSCI South Korea Bull 3x Shares (NYSEARCA:KORU)’s share price shot up 14.5% during trading on Thursday . The company traded as high as $1,048.00 and last traded at $1,046.60. 213,846 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 818,284 shares. The stock had previously closed at $914.40.

Direxion Daily MSCI South Korea Bull 3x Shares Stock Performance

The firm’s 50-day simple moving average is $764.01 and its two-hundred day simple moving average is $466.16. The stock has a market capitalization of $3.14 billion, a PE ratio of 9.42 and a beta of 4.38.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Hoey Investments Inc. acquired a new position in Direxion Daily MSCI South Korea Bull 3x Shares during the first quarter valued at $43,000. Farther Finance Advisors LLC purchased a new stake in Direxion Daily MSCI South Korea Bull 3x Shares in the 4th quarter worth about $34,000. Tucker Asset Management LLC acquired a new stake in Direxion Daily MSCI South Korea Bull 3x Shares during the 4th quarter worth about $47,000. Group One Trading LLC boosted 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 worth $207,000 after acquiring an additional 1,855 shares during the period. Finally, Sovereign Financial Group Inc. grew its stake in Direxion Daily MSCI South Korea Bull 3x Shares by 65.5% during the 4th quarter. Sovereign Financial Group Inc. now owns 4,068 shares of the company’s stock valued at $739,000 after acquiring 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.