Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Sees Strong Trading Volume – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) saw strong trading volume on Friday . 467,022 shares traded hands during mid-day trading, a decline of 33% from the previous session’s volume of 699,147 shares.The stock last traded at $162.52 and had previously closed at $141.12.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 14.8%

The stock has a market capitalization of $1.24 billion, a P/E ratio of 22.41 and a beta of 1.25. The firm has a fifty day moving average price of $126.30 and a two-hundred day moving average price of $184.09.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Parallel Advisors LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter worth approximately $31,000. Tower Research Capital LLC TRC boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after purchasing an additional 725 shares during the period. 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. Federation des caisses Desjardins du Quebec increased its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock worth $189,000 after purchasing an additional 220 shares in the last quarter. Finally, StoneX Group Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter valued at $264,000.

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.