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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $157.43, but opened at $172.66. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $168.53, with a volume of 342,750 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company has a market capitalization of $940.61 million, a price-to-earnings ratio of 22.41 and a beta of 1.08. The firm has a fifty day moving average price of $242.95 and a 200-day moving average price of $189.45.

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

A number of large investors have recently bought and sold shares of NUGT. Tower Research Capital LLC TRC raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in 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. acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $71,000. Federation des caisses Desjardins du Quebec boosted its position in shares of 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 acquiring an additional 220 shares in the last quarter. Caitlin John LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $164,000. Finally, StoneX Group Inc. bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at 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.