Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Up 6.8% – What’s Next?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) traded up 6.8% during mid-day trading on Wednesday . The stock traded as high as $159.32 and last traded at $159.5010. 656,254 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,329,545 shares. The stock had previously closed at $149.41.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock has a fifty day simple moving average of $141.17 and a 200 day simple moving average of $100.17. The firm has a market cap of $1.30 billion, a P/E ratio of 22.41 and a beta of 1.08.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. Hollencrest Capital Management lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 640.0% during the 1st quarter. Hollencrest Capital Management now owns 740 shares of the exchange traded fund’s stock valued at $46,000 after buying an additional 640 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the 2nd 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 during the period. Raymond James Financial Inc. purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at approximately $71,000. Caitlin John LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth $164,000. Finally, PFG Investments LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at $232,000.

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.