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) shares gapped up prior to trading on Thursday . The stock had previously closed at $74.71, but opened at $77.23. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $78.46, with a volume of 446,139 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market capitalization of $628.07 million, a P/E ratio of 22.41 and a beta of 1.08. The stock’s 50-day simple moving average is $69.45 and its two-hundred day simple moving average is $54.61.

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

Hedge funds have recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth $666,000. Beacon Harbor Wealth Advisors Inc. lifted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% in the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock worth $246,000 after buying an additional 2,500 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth $543,000. Seaview Investment Managers LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth $703,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth $203,000.

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.