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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $160.94, but opened at $178.47. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $184.11, with a volume of 313,547 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market cap of $1.09 billion, a P/E ratio of 22.41 and a beta of 1.18. The business’s 50-day moving average is $211.07 and its two-hundred day moving average is $199.02.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its position in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after purchasing an additional 725 shares in the last quarter. Raymond James Financial Inc. bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at $71,000. Caitlin John LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at $164,000. Federation des caisses Desjardins du Quebec grew its position in Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after purchasing an additional 220 shares in the last quarter. Finally, PFG Investments LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at $232,000.

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.