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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares hit a new 52-week high during trading on Thursday . The company traded as high as $82.80 and last traded at $81.35, with a volume of 206000 shares. The stock had previously closed at $78.75.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a fifty day moving average of $67.22 and a 200 day moving average of $53.45. The stock has a market capitalization of $565.79 million, a price-to-earnings ratio of 22.41 and a beta of 1.08.

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

Large investors have recently made changes to their positions in the company. IMC Chicago LLC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock valued at $4,256,000 after purchasing an additional 78,230 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at $666,000. Beacon Harbor Wealth Advisors Inc. grew its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% in the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock valued at $246,000 after purchasing an additional 2,500 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth approximately $543,000. Finally, Seaview Investment Managers LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth $703,000.

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.