Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Down – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $77.69, but opened at $73.24. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $73.58, with a volume of 755,357 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 4.0%

The business’s fifty day moving average is $71.33 and its two-hundred day moving average is $56.26. The company has a market capitalization of $566.84 million, a PE ratio of 22.41 and a beta of 1.08.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUGT. Jump Financial LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter valued at approximately $8,235,000. GTS Securities LLC increased its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 156.1% in the 4th quarter. GTS Securities LLC now owns 37,441 shares of the exchange traded fund’s stock worth $1,316,000 after purchasing an additional 104,162 shares in the last quarter. Virtu Financial LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter worth $1,340,000. Seaview Investment Managers LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at $703,000. Finally, SBI Securities Co. Ltd. grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 4.6% during the first quarter. SBI Securities Co. Ltd. now owns 19,827 shares of the exchange traded fund’s stock valued at $1,232,000 after purchasing an additional 872 shares during the period.

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.