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)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $47.03, but opened at $48.44. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $46.58, with a volume of 335,701 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock has a 50-day moving average price of $44.13 and a 200-day moving average price of $45.98. The company has a market capitalization of $536.72 million, a price-to-earnings ratio of 24.22 and a beta of 2.39.

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

Several hedge funds have recently added to or reduced their stakes in the business. GTS Securities LLC grew its holdings in 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 valued at $1,316,000 after buying an additional 104,162 shares in the last quarter. Tudor Investment Corp ET AL bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at $203,000. Seaview Investment Managers LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth about $703,000. EverSource Wealth Advisors LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at approximately $543,000. Finally, Beacon Harbor Wealth Advisors Inc. grew its position in Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% during the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock worth $246,000 after acquiring an additional 2,500 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.