Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Cross Above Fifty Day Moving Average of $27.73

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $27.73 and traded as high as $31.78. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $30.73, with a volume of 1,556,888 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 7.6 %

The company’s 50 day moving average price is $27.88 and its 200 day moving average price is $29.97. The firm has a market capitalization of $434.87 million, a price-to-earnings ratio of 16.65 and a beta of 1.98.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

Several institutional investors have recently bought and sold shares of NUGT. Vontobel Holding Ltd. purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter worth approximately $208,000. Flow Traders U.S. LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter valued at $218,000. Sowell Financial Services LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter valued at $1,345,000. Goldman Sachs Group Inc. grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 104.3% in the first quarter. Goldman Sachs Group Inc. now owns 9,717 shares of the exchange traded fund’s stock valued at $688,000 after buying an additional 4,960 shares in the last quarter. Finally, Eqis Capital Management Inc. acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter valued at $526,000.

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.