Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Hits New 52-Week High – Here’s What Happened

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $211.80 and last traded at $211.65, with a volume of 547038 shares. The stock had previously closed at $195.06.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The firm has a market capitalization of $1.24 billion, a P/E ratio of 22.41 and a beta of 1.08. The company has a 50-day simple moving average of $164.04 and a two-hundred day simple moving average of $128.20.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth $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. PFG Investments LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at $232,000. Finally, CreativeOne Wealth LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth about $258,000.

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.