Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Up – What’s Next?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped up prior to trading on Monday . The stock had previously closed at $133.80, but opened at $143.99. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $146.6180, with a volume of 523,746 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 10.5%

The firm has a market cap of $1.20 billion, a P/E ratio of 22.41 and a beta of 1.08. The stock’s fifty day moving average is $139.63 and its two-hundred day moving average is $99.06.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hollencrest Capital Management increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 640.0% in the first quarter. Hollencrest Capital Management now owns 740 shares of the exchange traded fund’s stock valued at $46,000 after acquiring an additional 640 shares during the last quarter. Tower Research Capital LLC TRC grew its stake 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 valued at $65,000 after purchasing an additional 725 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $71,000. PFG Investments LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth approximately $232,000. Finally, Headlands Technologies LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter worth approximately $103,000.

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.