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

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 $111.59, but opened at $116.93. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $121.25, with a volume of 319,073 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The business has a fifty day simple moving average of $137.33 and a 200 day simple moving average of $192.05. The stock has a market capitalization of $922.08 million, a price-to-earnings ratio of 22.41 and a beta of 1.25.

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

A number of institutional investors have recently modified their holdings of NUGT. Parallel Advisors LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter worth about $31,000. Tower Research Capital LLC TRC boosted its holdings in 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 purchasing an additional 725 shares during the period. Raymond James Financial Inc. acquired a new position 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 grew 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 purchasing an additional 220 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares 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 worth $195,000 after purchasing an additional 1,028 shares during the period.

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.