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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped up prior to trading 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 Stock Performance

The stock has a market cap of $1.32 billion, a P/E ratio of 22.41 and a beta of 1.24. The stock’s fifty day simple moving average is $227.94 and its 200-day simple moving average is $193.42.

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

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of 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 worth $65,000 after acquiring an additional 725 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $71,000. Federation des caisses Desjardins du Quebec lifted 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 worth $189,000 after acquiring an additional 220 shares during the period. Caitlin John LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $164,000. Finally, StoneX Group Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth approximately $264,000.

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.