Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading 5.5% Higher

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares rose 5.5% during trading on Friday . The stock traded as high as $42.78 and last traded at $42.71. Approximately 341,519 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,482,981 shares. The stock had previously closed at $40.47.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock’s 50 day simple moving average is $39.95 and its two-hundred day simple moving average is $34.37. The firm has a market cap of $633.32 million, a P/E ratio of 19.80 and a beta of 1.57.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pineridge Advisors LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter valued at approximately $5,410,000. Simplex Trading LLC increased its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 192.8% during the first quarter. Simplex Trading LLC now owns 93,119 shares of the exchange traded fund’s stock valued at $3,198,000 after purchasing an additional 61,320 shares in the last quarter. IMC Chicago LLC increased its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 33.5% during the fourth quarter. IMC Chicago LLC now owns 79,207 shares of the exchange traded fund’s stock valued at $2,755,000 after purchasing an additional 19,879 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter valued at approximately $2,193,000. Finally, Jump Financial LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at approximately $1,623,000.

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.