Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Reaches New 52-Week High – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) reached a new 52-week high during trading on Friday . The stock traded as high as $195.50 and last traded at $194.8660, with a volume of 479451 shares trading hands. The stock had previously closed at $182.51.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock has a market capitalization of $1.57 billion, a PE ratio of 22.41 and a beta of 1.08. The firm’s 50 day moving average is $154.15 and its two-hundred day moving average is $117.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC increased 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 worth $1,853,000 after purchasing an additional 4,500 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth about $333,000. UBS Group AG increased its stake 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 worth $1,504,000 after buying an additional 8,738 shares during the period. CreativeOne Wealth LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth approximately $258,000. Finally, Caitlin John LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $164,000.

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.