Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Up – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $122.29, but opened at $135.41. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $137.25, with a volume of 254,586 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The firm has a fifty day simple moving average of $127.05 and a two-hundred day simple moving average of $185.41. The firm has a market cap of $1.08 billion, a PE ratio of 22.41 and a beta of 1.25.

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

A number of hedge funds have recently bought and sold shares of NUGT. Parallel Advisors LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter worth $31,000. Tower Research Capital LLC TRC raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after buying an additional 725 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $71,000. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after acquiring an additional 220 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 160.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock valued at $195,000 after acquiring an additional 1,028 shares during the last quarter.

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.