Short Interest in Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Declines By 34.3%

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) saw a significant decline in short interest during the month of December. As of December 15th, there was short interest totaling 285,845 shares, a decline of 34.3% from the November 30th total of 434,806 shares. Currently, 3.5% of the shares of the company are sold short. Based on an average daily trading volume, of 802,153 shares, the short-interest ratio is presently 0.4 days. Based on an average daily trading volume, of 802,153 shares, the short-interest ratio is presently 0.4 days. Currently, 3.5% of the shares of the company are sold short.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

Shares of NUGT stock opened at $188.95 on Wednesday. Direxion Daily Gold Miners Index Bull 2x Shares has a 12-month low of $34.46 and a 12-month high of $211.09. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. The business has a 50 day simple moving average of $159.88 and a 200 day simple moving average of $125.15.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC raised its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the second 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth about $71,000. Caitlin John LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth approximately $164,000. PFG Investments LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $232,000. Finally, CreativeOne Wealth LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at approximately $258,000.

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.