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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares gapped up prior to trading on Friday . The stock had previously closed at $227.73, but opened at $240.06. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $248.8620, with a volume of 292,340 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 11.3%

The company has a market cap of $1.41 billion, a P/E ratio of 22.41 and a beta of 1.08. The firm has a fifty day moving average price of $219.76 and a 200 day moving average price of $161.94.

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

Several hedge funds have recently modified their holdings of the stock. Belvedere Trading LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at $435,000. Brookstone Capital Management bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth about $526,000. Client First Investment Management LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at about $7,719,000. Simplex Trading LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at about $1,004,000. Finally, IMC Chicago LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at about $10,013,000.

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.