Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Up – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped up prior to trading on Monday . The stock had previously closed at $50.28, but opened at $52.87. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $53.04, with a volume of 254,680 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company has a market cap of $756.38 million, a PE ratio of 19.80 and a beta of 1.57. The company has a 50-day moving average price of $41.40 and a two-hundred day moving average price of $45.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NUGT. 180 Wealth Advisors LLC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock worth $230,000 after buying an additional 590 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% during the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock worth $246,000 after purchasing an additional 2,500 shares during the period. PFG Investments LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth approximately $364,000. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $505,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth approximately $543,000.

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.