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 prior to trading on Wednesday . The stock had previously closed at $122.29, but opened at $135.41. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $137.25, with a volume of 254,586 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 13.4%

The company has a fifty day moving average price of $126.30 and a 200 day moving average price of $184.09. The stock has a market cap of $1.22 billion, a PE ratio of 22.41 and a beta of 1.25.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% during the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock valued at $6,554,000 after buying an additional 30,151 shares during the last quarter. HRT Financial LP raised its position in Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% in the fourth quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock worth $6,366,000 after acquiring an additional 27,411 shares during the period. Qube Research & Technologies Ltd purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $990,000. Jump Financial LLC boosted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 173.3% in the 4th quarter. Jump Financial LLC now owns 20,651 shares of the exchange traded fund’s stock worth $3,797,000 after buying an additional 13,095 shares during the period. Finally, UBS Group AG boosted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 873.8% in the 3rd quarter. UBS Group AG now owns 9,738 shares of the exchange traded fund’s stock worth $1,504,000 after purchasing an additional 8,738 shares during the period.

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.