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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 381,900 shares, anincreaseof50.1% from the July 15th total of 254,400 shares. Approximately5.0% of the company’s shares are short sold. Based on an average daily volume of 1,064,600 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily volume of 1,064,600 shares, the days-to-cover ratio is presently 0.4 days. Approximately5.0% of the company’s shares are short sold.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. SBI Securities Co. Ltd. boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 4.6% during the first quarter. SBI Securities Co. Ltd. now owns 19,827 shares of the exchange traded fund’s stock worth $1,232,000 after purchasing an additional 872 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter worth $103,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 122.8% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,228 shares of the exchange traded fund’s stock valued at $138,000 after acquiring an additional 1,228 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 3.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 6,742 shares of the exchange traded fund’s stock valued at $419,000 after acquiring an additional 213 shares in the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at $203,000.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 5.7%

Shares of NYSEARCA NUGT opened at $91.27 on Thursday. The company’s fifty day moving average is $79.24 and its 200-day moving average is $67.50. The stock has a market cap of $702.78 million, a price-to-earnings ratio of 22.41 and a beta of 1.98. Direxion Daily Gold Miners Index Bull 2x Shares has a twelve month low of $34.08 and a twelve month high of $93.41.

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.