Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Up 6.7% – What’s Next?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) rose 6.7% during mid-day trading on Thursday . The company traded as high as $37.62 and last traded at $37.53. Approximately 696,115 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 2,192,258 shares. The stock had previously closed at $35.16.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 8.2 %

The stock has a market cap of $557.43 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The company’s 50-day moving average is $42.83 and its 200-day moving average is $44.96.

Institutional Investors 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. Headlands Technologies LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth $195,000. Virtu Financial LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at about $505,000. HighTower Advisors LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after purchasing an additional 4,605 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock valued at $589,000 after purchasing an additional 3,409 shares during the last quarter. Finally, Fore Capital LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at approximately $1,691,000.

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.