Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Up – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $47.03, but opened at $48.44. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $46.58, with a volume of 335,701 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 3.3 %

The firm has a 50 day moving average of $44.13 and a 200 day moving average of $45.98. The firm has a market cap of $536.72 million, a PE ratio of 24.22 and a beta of 2.39.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUGT. HighTower Advisors LLC raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 4,605 shares during the period. Virtu Financial LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth about $505,000. 180 Wealth Advisors LLC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock worth $230,000 after acquiring an additional 590 shares during the last quarter. PFG Investments LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter valued at about $364,000. Finally, IMC Chicago LLC grew its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock worth $4,256,000 after purchasing an additional 78,230 shares in the last quarter.

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.