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

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped up prior to trading on Monday . The stock had previously closed at $60.94, but opened at $62.39. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $61.16, with a volume of 510,100 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock has a fifty day moving average of $51.02 and a 200 day moving average of $47.22. The stock has a market cap of $537.17 million, a price-to-earnings ratio of 29.18 and a beta of 1.68.

Direxion Daily Gold Miners Index Bull 2x Shares Increases Dividend

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

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

Several institutional investors and hedge funds have recently modified their holdings of NUGT. Tudor Investment Corp ET AL acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth about $203,000. 180 Wealth Advisors LLC boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock worth $230,000 after acquiring an additional 590 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. increased its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% during the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock worth $246,000 after purchasing an additional 2,500 shares in the last quarter. Virtu Financial LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at $505,000. Finally, PFG Investments LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during 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.