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)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $49.79, but opened at $44.97. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $45.48, with a volume of 664,282 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 7.2 %

The firm has a market cap of $677.12 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The company has a fifty day moving average price of $50.16 and a 200-day moving average price of $44.86.

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

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

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.