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) gapped up before the market opened on Wednesday . The stock had previously closed at $200.93, but opened at $225.25. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $220.24, with a volume of 440,329 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 0.7%

The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 22.41 and a beta of 1.24. The stock has a fifty day moving average price of $224.60 and a 200 day moving average price of $193.71.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during 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. bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at approximately $71,000. Caitlin John LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at approximately $164,000. Federation des caisses Desjardins du Quebec boosted its stake in 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 purchasing an additional 220 shares during the period. Finally, PFG Investments LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at approximately $232,000.

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.