Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Up 6.5% – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price were up 6.5% on Wednesday . The company traded as high as $51.58 and last traded at $51.32. Approximately 625,891 shares changed hands during trading, a decline of 59% from the average daily volume of 1,514,523 shares. The stock had previously closed at $48.19.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market cap of $736.60 million, a PE ratio of 19.80 and a beta of 1.57. The stock’s fifty day moving average price is $40.86 and its 200-day moving average price is $45.08.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

Several hedge funds have recently made changes to their positions in NUGT. IMC Chicago LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock worth $4,256,000 after purchasing an additional 78,230 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth about $666,000. PFG Investments LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth about $364,000. Virtu Financial LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $505,000. Finally, 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 valued at $564,000 after acquiring an additional 4,605 shares in the last quarter.

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.