Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Reaches New 1-Year High – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) hit a new 52-week high on Tuesday . The company traded as high as $61.50 and last traded at $60.32, with a volume of 408234 shares changing hands. The stock had previously closed at $58.68.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company has a market capitalization of $600.02 million, a price-to-earnings ratio of 26.41 and a beta of 2.32. The stock’s fifty day simple moving average is $47.40 and its two-hundred day simple moving average is $46.25.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC lifted its stake in 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 valued at $564,000 after buying an additional 4,605 shares in the last quarter. IMC Chicago LLC lifted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock valued at $4,256,000 after buying an additional 78,230 shares in the last quarter. 180 Wealth Advisors LLC lifted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after buying an additional 590 shares in the last quarter. Virtu Financial LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at about $505,000. Finally, PFG Investments LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at about $364,000.

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.