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) shares gapped up before the market opened on Tuesday . The stock had previously closed at $57.56, but opened at $58.99. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $60.62, with a volume of 492,482 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 4.3 %

The company has a market cap of $606.48 million, a price-to-earnings ratio of 26.41 and a beta of 2.32. The stock has a 50 day moving average price of $49.45 and a two-hundred day moving average price of $46.74.

Hedge Funds Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. HighTower Advisors LLC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after purchasing an additional 4,605 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth $505,000. 180 Wealth Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after acquiring an additional 590 shares in the last quarter. PFG Investments LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter worth $364,000. Finally, IMC Chicago LLC increased its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the 4th quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock worth $4,256,000 after purchasing an additional 78,230 shares in the last quarter.

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.