Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Up 6.7% – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price shot up 6.7% during trading on Thursday . The company traded as high as $37.62 and last traded at $37.53. 696,115 shares were traded during trading, a decline of 68% from the average session volume of 2,192,258 shares. The stock had previously closed at $35.16.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 8.2 %

The firm has a market capitalization of $557.43 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The stock has a fifty day moving average of $42.83 and a 200-day moving average of $44.96.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $505,000. HighTower Advisors LLC raised its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after acquiring an additional 4,605 shares during the period. IMC Chicago LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the 3rd quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock worth $2,126,000 after acquiring an additional 19,599 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock valued at $589,000 after purchasing an additional 3,409 shares during the last quarter. Finally, Fore Capital LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth about $1,691,000.

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.