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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price reached a new 52-week high on Friday . The stock traded as high as $210.76 and last traded at $209.3870, with a volume of 344159 shares traded. The stock had previously closed at $202.86.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock’s fifty day moving average price is $158.49 and its 200 day moving average price is $123.31. The stock has a market capitalization of $1.70 billion, a P/E ratio of 22.41 and a beta of 1.08.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NUGT. IMC Chicago LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth $10,013,000. Client First Investment Management LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth about $7,719,000. Simplex Trading LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth about $1,004,000. Qube Research & Technologies Ltd purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $990,000. Finally, UBS Group AG raised its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 873.8% in the 3rd quarter. UBS Group AG now owns 9,738 shares of the exchange traded fund’s stock valued at $1,504,000 after acquiring 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.