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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $50.07, but opened at $54.28. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $57.72, with a volume of 1,699,695 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 10.9 %

The company has a market capitalization of $620.46 million, a P/E ratio of 29.18 and a beta of 1.68. The company’s 50 day moving average is $54.42 and its 200-day moving average is $47.91.

Direxion Daily Gold Miners Index Bull 2x Shares Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were issued a dividend of $0.1476 per share. This is a positive change from Direxion Daily Gold Miners Index Bull 2x Shares’s previous dividend of $0.07. The ex-dividend date was Tuesday, March 25th.

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

A number of hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC raised its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after buying an additional 4,605 shares during the last quarter. IMC Chicago LLC raised its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% in the 4th quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock worth $4,256,000 after acquiring an additional 78,230 shares during the last quarter. 180 Wealth Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after acquiring an additional 590 shares in the last quarter. Virtu Financial LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at $505,000. Finally, PFG Investments LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter worth $364,000.

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.