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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped up prior to trading on Thursday . The stock had previously closed at $116.02, but opened at $124.04. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $127.75, with a volume of 281,686 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company’s fifty day moving average price is $157.36 and its 200 day moving average price is $199.67. The company has a market cap of $913.23 million, a PE ratio of 22.41 and a beta of 1.25.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 3.2% in the 4th quarter. NewEdge Advisors LLC now owns 2,224 shares of the exchange traded fund’s stock valued at $409,000 after buying an additional 69 shares during the last quarter. Parallel Advisors LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter worth approximately $31,000. HighTower Advisors LLC boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 12.2% in the 4th quarter. HighTower Advisors LLC now owns 1,721 shares of the exchange traded fund’s stock worth $316,000 after buying an additional 187 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in 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 buying an additional 220 shares during the last quarter. Finally, Harbour Investments Inc. grew its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 11.1% in the fourth quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock valued at $759,000 after acquiring an additional 413 shares in the last quarter.

Direxion Daily Gold Miners Index Bull 2x Shares Company Profile

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.