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 share price gapped up before the market opened on Tuesday . The stock had previously closed at $109.94, but opened at $118.73. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $118.91, with a volume of 230,749 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 7.2%

The firm has a market capitalization of $871.87 million, a P/E ratio of 22.41 and a beta of 1.25. The firm has a 50-day moving average of $147.08 and a two-hundred day moving average of $195.75.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter worth about $31,000. Tower Research Capital LLC TRC grew its holdings 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 purchasing 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 2nd quarter valued at approximately $71,000. Federation des caisses Desjardins du Quebec increased its position in Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% during the 4th 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 in the last quarter. Finally, StoneX Group Inc. acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth approximately $264,000.

Direxion Daily Gold Miners Index Bull 2x Shares Company Profile

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.