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) gapped down prior to trading on Wednesday . The stock had previously closed at $124.62, but opened at $113.65. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $119.16, with a volume of 334,131 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company’s 50-day moving average price is $165.19 and its 200 day moving average price is $201.16. The stock has a market capitalization of $691.18 million, a PE ratio of 22.41 and a beta of 1.16.

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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 3.2% during the 4th quarter. NewEdge Advisors LLC now owns 2,224 shares of the exchange traded fund’s stock valued at $409,000 after acquiring an additional 69 shares in the last quarter. Parallel Advisors LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter worth approximately $31,000. HighTower Advisors LLC lifted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 12.2% in the 4th quarter. HighTower Advisors LLC now owns 1,721 shares of the exchange traded fund’s stock valued at $316,000 after purchasing an additional 187 shares during the period. Federation des caisses Desjardins du Quebec lifted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the 4th 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 during the period. Finally, Harbour Investments Inc. boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 11.1% during the fourth quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock valued at $759,000 after purchasing an additional 413 shares in the last quarter.

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.