Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Hits New 1-Year High – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price hit a new 52-week high on Tuesday . The stock traded as high as $257.74 and last traded at $258.3620, with a volume of 241747 shares changing hands. The stock had previously closed at $234.92.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 9.5%

The company has a market cap of $1.43 billion, a PE ratio of 22.41 and a beta of 1.08. The business’s 50 day moving average is $182.53 and its two-hundred day moving average is $138.67.

Hedge Funds 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. Redhawk Wealth Advisors Inc. bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter valued at approximately $368,000. JPMorgan Chase & Co. boosted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 40.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,676 shares of the exchange traded fund’s stock worth $413,000 after purchasing an additional 771 shares during the period. FNY Investment Advisers LLC grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 60.0% during the 3rd quarter. FNY Investment Advisers LLC now owns 12,000 shares of the exchange traded fund’s stock valued at $1,853,000 after buying an additional 4,500 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at approximately $333,000. Finally, UBS Group AG raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 873.8% during the third quarter. UBS Group AG now owns 9,738 shares of the exchange traded fund’s stock valued at $1,504,000 after buying an additional 8,738 shares during the last quarter.

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.