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) shares gapped down before the market opened on Thursday . The stock had previously closed at $119.46, but opened at $112.09. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $113.31, with a volume of 174,715 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company’s 50 day moving average is $133.15 and its two-hundred day moving average is $190.56. The firm has a market cap of $862.97 million, a P/E ratio of 22.41 and a beta of 1.25.

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

Large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter worth approximately $31,000. Tower Research Capital LLC TRC increased its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after purchasing an additional 725 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at approximately $71,000. Federation des caisses Desjardins du Quebec raised its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after purchasing an additional 220 shares in the last quarter. Finally, StoneX Group Inc. acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at $264,000.

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.