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

Shares of Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) gapped up before the market opened on Wednesday. The stock had previously closed at $112.63, but opened at $125.00. Direxion Daily Gold Miners Index Bull 2x ETF shares last traded at $125.9680, with a volume of 525,441 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x ETF Price Performance

The stock has a market capitalization of $905.90 million, a price-to-earnings ratio of 22.41 and a beta of 1.36. The business has a fifty day moving average of $158.83 and a 200 day moving average of $177.67.

Hedge Funds Weigh In On Direxion Daily Gold Miners Index Bull 2x ETF

Large investors have recently modified their holdings of the business. Headlands Technologies LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter valued at about $1,282,000. 180 Wealth Advisors LLC increased its position in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 4.0% during the third quarter. 180 Wealth Advisors LLC now owns 3,131 shares of the exchange traded fund’s stock valued at $463,000 after acquiring an additional 120 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the second quarter valued at about $99,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% during the second 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. Finally, Parallel Advisors LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the 1st quarter valued at approximately $31,000.

About Direxion Daily Gold Miners Index Bull 2x ETF

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.