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) gapped up prior to trading on Wednesday . The stock had previously closed at $73.26, but opened at $78.62. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $78.67, with a volume of 914,278 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market cap of $682.55 million, a P/E ratio of 29.18 and a beta of 1.68. The stock’s 50-day moving average price is $55.29 and its 200 day moving average price is $48.18.

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

Hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC raised its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after acquiring an additional 4,605 shares in the last quarter. IMC Chicago LLC raised its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the 4th quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock worth $4,256,000 after purchasing an additional 78,230 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after buying an additional 590 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at $505,000. Finally, PFG Investments LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at $364,000.

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.