Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Down – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares gapped down before the market opened on Friday . The stock had previously closed at $140.00, but opened at $135.41. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $140.00, with a volume of 538,979 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market capitalization of $1.00 billion, a P/E ratio of 22.41 and a beta of 1.98. The stock’s 50 day moving average is $133.18 and its two-hundred day moving average is $94.53.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

A number of institutional investors and hedge funds have recently modified their holdings of NUGT. Hollencrest Capital Management raised its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 640.0% during the first quarter. Hollencrest Capital Management now owns 740 shares of the exchange traded fund’s stock worth $46,000 after buying an additional 640 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after buying an additional 725 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth approximately $71,000. Headlands Technologies LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter worth approximately $103,000. Finally, Miracle Mile Advisors LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $263,000.

About Direxion Daily Gold Miners Index Bull 2x Shares

The Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) is an exchange-traded fund that is based on the NYSE Arca Gold Miners (NTR) index. The fund provides 2x leveraged exposure to a market-cap-weighted index of global gold and silver mining firms. NUGT was launched on Dec 8, 2010 and is managed by Direxion.