Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Shares Gap Up – Time to Buy?

Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) gapped up before the market opened on Friday. The stock had previously closed at $143.22, but opened at $149.81. Direxion Daily Gold Miners Index Bull 2x ETF shares last traded at $150.96, with a volume of 143,887 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x ETF Trading Up 5.6%

The stock’s 50-day moving average price is $169.33 and its 200-day moving average price is $160.89. The company has a market cap of $1.04 billion, a P/E ratio of 22.41 and a beta of 1.33.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NUGT. Virtu Financial LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x ETF by 548.5% in the 4th quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock valued at $6,554,000 after acquiring an additional 30,151 shares in the last quarter. Headlands Technologies LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x ETF during the second quarter valued at about $1,282,000. Frazier Financial Advisors LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x ETF during the first quarter valued at about $753,000. Optiver Holding B.V. increased its holdings in Direxion Daily Gold Miners Index Bull 2x ETF by 72.3% during the first quarter. Optiver Holding B.V. now owns 3,052 shares of the exchange traded fund’s stock worth $575,000 after buying an additional 1,281 shares during the last quarter. Finally, 180 Wealth Advisors LLC boosted its stake in Direxion Daily Gold Miners Index Bull 2x ETF by 4.6% in the second quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock valued at $352,000 after acquiring an additional 132 shares during the last quarter.

About Direxion Daily Gold Miners Index Bull 2x ETF

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.