Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Shares Gap Up – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $171.61, but opened at $178.38. Direxion Daily Gold Miners Index Bull 2x ETF shares last traded at $171.3320, with a volume of 106,507 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x ETF Stock Performance

The stock has a fifty day simple moving average of $153.59 and a two-hundred day simple moving average of $169.79. The stock has a market cap of $1.03 billion, a PE ratio of 22.41 and a beta of 1.37.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x ETF

A number of hedge funds and other institutional investors have recently modified their holdings of NUGT. Virtu Financial LLC lifted its stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 548.5% in the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock worth $6,554,000 after acquiring an additional 30,151 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the second quarter worth about $1,282,000. Revere Asset Management Inc bought a new position in Direxion Daily Gold Miners Index Bull 2x ETF during the 4th quarter worth approximately $1,302,000. Harbour Investments Inc. boosted its holdings in Direxion Daily Gold Miners Index Bull 2x ETF by 11.1% in the fourth quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock worth $759,000 after purchasing an additional 413 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the 1st quarter valued at about $753,000.

About Direxion Daily Gold Miners Index Bull 2x ETF

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.