Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Sees Large Decline in Short Interest

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) was the target of a significant decline in short interest in February. As of February 13th, there was short interest totaling 307,492 shares, a decline of 25.8% from the January 29th total of 414,369 shares. Based on an average daily volume of 842,551 shares, the short-interest ratio is currently 0.4 days. Approximately 5.5% of the shares of the stock are sold short. Approximately 5.5% of the shares of the stock are sold short. Based on an average daily volume of 842,551 shares, the short-interest ratio is currently 0.4 days.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 1.0%

Shares of NUGT stock traded up $2.64 during trading hours on Wednesday, reaching $258.99. The company’s stock had a trading volume of 597,906 shares, compared to its average volume of 818,157. The firm’s 50 day simple moving average is $242.99 and its 200-day simple moving average is $179.04. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. Direxion Daily Gold Miners Index Bull 2x Shares has a fifty-two week low of $47.11 and a fifty-two week high of $320.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NUGT. 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. Crosspoint Financial LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at approximately $282,000. Qube Research & Technologies Ltd acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $990,000. Raymond James Financial Inc. acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $71,000. Finally, Tower Research Capital LLC TRC lifted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after purchasing an additional 725 shares during the last quarter.

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.