Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Pass Above Fifty Day Moving Average – Here’s What Happened

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $113.16 and traded as high as $167.11. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $163.37, with a volume of 1,646,549 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 3.8%

The stock’s fifty day moving average price is $113.16 and its 200 day moving average price is $85.10. The stock has a market cap of $1.07 billion, a P/E ratio of 22.41 and a beta of 1.98.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Several hedge funds have recently added to or reduced their stakes in the company. Hollencrest Capital Management boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 640.0% in the 1st quarter. Hollencrest Capital Management now owns 740 shares of the exchange traded fund’s stock worth $46,000 after purchasing an additional 640 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after buying an additional 725 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter worth approximately $71,000. Headlands Technologies LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter worth approximately $103,000. Finally, Crosspoint Financial LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at approximately $282,000.

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.