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) gapped up prior to trading on Friday . The stock had previously closed at $227.73, but opened at $240.06. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $248.8620, with a volume of 292,340 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock has a market capitalization of $1.40 billion, a PE ratio of 22.41 and a beta of 1.08. The company has a 50 day moving average price of $217.97 and a 200-day moving average price of $160.11.

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

A number of large investors have recently modified their holdings of NUGT. Tower Research Capital LLC TRC raised its position in shares of 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 worth $65,000 after acquiring an additional 725 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter worth approximately $71,000. Caitlin John LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at $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% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after acquiring an additional 220 shares during the last quarter. Finally, PFG Investments LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at approximately $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.