Direxion Daily Junior Gold Miners Index Bull 2X Shares (NYSEARCA:JNUG) Shares Gap Up – Should You Buy?

Direxion Daily Junior Gold Miners Index Bull 2X Shares (NYSEARCA:JNUG) gapped up before the market opened on Wednesday . The stock had previously closed at $159.88, but opened at $178.92. Direxion Daily Junior Gold Miners Index Bull 2X Shares shares last traded at $182.13, with a volume of 151,845 shares.

Direxion Daily Junior Gold Miners Index Bull 2X Shares Trading Up 17.8%

The company has a market capitalization of $600.68 million, a price-to-earnings ratio of 27.33 and a beta of 1.64. The firm’s 50 day simple moving average is $132.31 and its 200-day simple moving average is $190.74.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Qube Research & Technologies Ltd lifted its position in Direxion Daily Junior Gold Miners Index Bull 2X Shares by 693.5% in the second quarter. Qube Research & Technologies Ltd now owns 7,253 shares of the exchange traded fund’s stock valued at $576,000 after purchasing an additional 6,339 shares during the period. Headlands Technologies LLC raised its stake in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares by 8,942.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,532 shares of the exchange traded fund’s stock worth $201,000 after buying an additional 2,504 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares during the 3rd quarter worth approximately $973,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares in the 3rd quarter valued at approximately $5,097,000. Finally, TD Waterhouse Canada Inc. purchased a new stake in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares in the fourth quarter valued at approximately $28,000.

About Direxion Daily Junior Gold Miners Index Bull 2X Shares

The Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG) is an exchange-traded fund that is based on the MVIS Global Junior Gold Miners index. The fund provides daily 2x exposure to an index of junior gold and silver mining companies from developed as well as emerging markets. JNUG was launched on Oct 3, 2013 and is managed by Direxion.