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

Shares of Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) gapped down before the market opened on Tuesday. The stock had previously closed at $154.28, but opened at $142.79. Direxion Daily Gold Miners Index Bull 2x ETF shares last traded at $143.0890, with a volume of 275,861 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x ETF Stock Down 11.4%

The firm has a 50-day moving average of $153.54 and a two-hundred day moving average of $175.57. The stock has a market capitalization of $943.69 million, a price-to-earnings ratio of 22.41 and a beta of 1.36.

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

Several institutional investors and hedge funds have recently bought and sold shares of NUGT. Headlands Technologies LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter valued at about $1,282,000. HighTower Advisors LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the third quarter worth approximately $645,000. Frazier Financial Advisors LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the first quarter worth approximately $753,000. 180 Wealth Advisors LLC grew its position in Direxion Daily Gold Miners Index Bull 2x ETF by 4.0% during the third quarter. 180 Wealth Advisors LLC now owns 3,131 shares of the exchange traded fund’s stock valued at $463,000 after purchasing an additional 120 shares in the last quarter. Finally, Optiver Holding B.V. increased its stake in Direxion Daily Gold Miners Index Bull 2x ETF by 72.3% in the 1st quarter. Optiver Holding B.V. now owns 3,052 shares of the exchange traded fund’s stock valued at $575,000 after buying an additional 1,281 shares during the period.

Direxion Daily Gold Miners Index Bull 2x ETF 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.