Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Up – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares gapped up prior to trading on Tuesday . The stock had previously closed at $109.94, but opened at $118.73. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $118.91, with a volume of 230,749 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 2.3%

The firm has a market capitalization of $838.27 million, a PE ratio of 22.41 and a beta of 1.25. The stock’s fifty day simple moving average is $144.67 and its 200 day simple moving average is $194.48.

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

Several hedge funds and other institutional investors have recently modified their holdings of NUGT. Parallel Advisors LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter valued at $31,000. Tower Research Capital LLC TRC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the second 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 last quarter. Raymond James Financial Inc. bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at $71,000. Federation des caisses Desjardins du Quebec grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in 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 buying an additional 220 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 160.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock worth $195,000 after buying an additional 1,028 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.