Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Down – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped down prior to trading on Monday . The stock had previously closed at $44.71, but opened at $41.66. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $41.85, with a volume of 234,046 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company has a market capitalization of $612.37 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The business’s 50-day moving average price is $49.46 and its two-hundred day moving average price is $45.27.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Pineridge Advisors LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter worth $5,410,000. B. Riley Wealth Advisors Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth $2,193,000. Fore Capital LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at about $1,691,000. IMC Chicago LLC grew its position in Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% in the third quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock valued at $2,126,000 after acquiring an additional 19,599 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter worth about $856,000.

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.