Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Up – Here’s What Happened

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped up before the market opened on Wednesday . The stock had previously closed at $157.36, but opened at $174.92. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $178.97, with a volume of 342,849 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company has a market cap of $1.41 billion, a PE ratio of 22.41 and a beta of 1.25. The stock’s 50 day moving average price is $128.18 and its 200-day moving average price is $177.72.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth approximately $31,000. 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 valued at $65,000 after acquiring an additional 725 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth about $71,000. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock worth $189,000 after purchasing an additional 220 shares during the period. Finally, StoneX Group Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth about $264,000.

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.