Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Up 7.2% – What’s Next?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) traded up 7.2% during mid-day trading on Monday . The stock traded as high as $285.86 and last traded at $283.2140. 205,187 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 815,202 shares. The stock had previously closed at $264.20.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 0.5%

The stock has a market capitalization of $1.60 billion, a P/E ratio of 22.41 and a beta of 1.08. The company has a fifty day simple moving average of $231.78 and a two-hundred day simple moving average of $171.31.

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. Belvedere Trading LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth $435,000. Brookstone Capital Management bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth about $526,000. Simplex Trading LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at about $1,004,000. Client First Investment Management LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at about $7,719,000. Finally, IMC Chicago LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth about $10,013,000.

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.