Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Down to $49.05

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped down prior to trading on Wednesday . The stock had previously closed at $49.05, but opened at $47.62. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $46.79, with a volume of 675,466 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 5.2 %

The stock has a market cap of $681.52 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The company has a 50 day simple moving average of $43.51 and a 200 day simple moving average of $38.24.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hollencrest Capital Management raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 50.0% during the first quarter. Hollencrest Capital Management now owns 900 shares of the exchange traded fund’s stock worth $31,000 after acquiring an additional 300 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth approximately $49,000. Headlands Technologies LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter worth approximately $136,000. 180 Wealth Advisors LLC boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 12.5% in the 1st quarter. 180 Wealth Advisors LLC now owns 7,123 shares of the exchange traded fund’s stock valued at $245,000 after purchasing an additional 792 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.5% during the second quarter. Harbour Investments Inc. now owns 7,462 shares of the exchange traded fund’s stock worth $280,000 after buying an additional 1,608 shares during the period.

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.