Short Interest in Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Decreases By 17.6%

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) saw a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 327,116 shares, a decrease of 17.6% from the February 26th total of 397,061 shares. Based on an average trading volume of 853,595 shares, the days-to-cover ratio is presently 0.4 days. Currently, 5.9% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC grew its holdings in shares of 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 acquiring an additional 725 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth approximately $71,000. Caitlin John LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth $164,000. Federation des caisses Desjardins du Quebec raised its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after acquiring an additional 220 shares in the last quarter. Finally, PFG Investments LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth $232,000.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 3.4%

Shares of NUGT traded up $5.62 during mid-day trading on Monday, hitting $169.97. The company had a trading volume of 338,098 shares, compared to its average volume of 822,069. Direxion Daily Gold Miners Index Bull 2x Shares has a 1-year low of $47.11 and a 1-year high of $320.79. The business’s 50-day simple moving average is $238.58 and its 200-day simple moving average is $190.29. The stock has a market cap of $943.33 million, a PE ratio of 22.41 and a beta of 1.08.

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.