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 Monday . The stock had previously closed at $38.63, but opened at $40.88. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $41.31, with a volume of 816,896 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a 50-day moving average of $49.67 and a 200 day moving average of $45.17. The stock has a market capitalization of $642.70 million, a price-to-earnings ratio of 19.80 and a beta of 1.57.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Headlands Technologies LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at about $195,000. Harbour Investments Inc. boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.5% during the 2nd quarter. Harbour Investments Inc. now owns 7,462 shares of the exchange traded fund’s stock worth $280,000 after acquiring an additional 1,608 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $317,000. Virtu Financial LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter valued at $384,000. Finally, HighTower Advisors LLC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 4,605 shares during the last quarter.

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.