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) shares gapped up before the market opened on Wednesday . The stock had previously closed at $188.25, but opened at $200.55. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $205.61, with a volume of 395,438 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company’s fifty day moving average price is $235.71 and its 200 day moving average price is $190.95. The company has a market cap of $1.17 billion, a PE ratio of 22.41 and a beta of 1.08.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted 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 worth $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 worth $71,000. Caitlin John LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth $164,000. Federation des caisses Desjardins du Quebec boosted 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 worth $189,000 after buying an additional 220 shares during the last quarter. Finally, PFG Investments LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth about $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.