Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Reaches New 12-Month High – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares reached a new 52-week high on Thursday . The company traded as high as $79.87 and last traded at $77.25, with a volume of 2544855 shares trading hands. The stock had previously closed at $73.26.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company has a market cap of $675.94 million, a P/E ratio of 29.18 and a beta of 1.68. The firm’s fifty day moving average is $55.83 and its two-hundred day moving average is $48.38.

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

A number of hedge funds have recently made changes to their positions in NUGT. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 122.8% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,228 shares of the exchange traded fund’s stock valued at $138,000 after acquiring an additional 1,228 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth about $203,000. 180 Wealth Advisors LLC increased its holdings 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 purchasing an additional 590 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% in the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock worth $246,000 after buying an additional 2,500 shares in the last quarter. Finally, PFG Investments LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at approximately $364,000.

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.