Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Down – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price gapped down before the market opened on Friday . The stock had previously closed at $286.12, but opened at $238.60. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $243.3140, with a volume of 409,025 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 19.6%

The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. The business has a 50 day moving average of $203.94 and a 200 day moving average of $149.25.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at $557,000. Savvy Advisors Inc. acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter worth about $498,000. Simplex Trading LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at about $1,004,000. Crosspoint Financial LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $282,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $990,000.

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.