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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $231.00 and last traded at $231.9820, with a volume of 241248 shares. The stock had previously closed at $213.00.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock has a 50 day moving average price of $170.28 and a two-hundred day moving average price of $131.99. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08.

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

A number of hedge funds and other institutional investors have recently modified their holdings of NUGT. Tower Research Capital LLC TRC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after acquiring an additional 725 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at approximately $71,000. Caitlin John LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at approximately $164,000. PFG Investments LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $232,000. Finally, CreativeOne Wealth LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $258,000.

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.