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 before the market opened on Wednesday . The stock had previously closed at $174.94, but opened at $183.71. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $189.3710, with a volume of 192,627 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 22.41 and a beta of 1.25. The business has a 50 day moving average price of $140.53 and a 200-day moving average price of $175.01.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

Institutional investors and hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth $990,000. Raymond James Financial Inc. bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at $71,000. Tower Research Capital LLC TRC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after buying an additional 725 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,676 shares of the exchange traded fund’s stock valued at $413,000 after purchasing an additional 771 shares during the last quarter. Finally, CreativeOne Wealth LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at $258,000.

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.