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

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NUGT. Tower Research Capital LLC TRC increased 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 during the period. Raymond James Financial Inc. bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at about $71,000. Caitlin John LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at about $164,000. PFG Investments LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at about $232,000. Finally, CreativeOne Wealth LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth about $258,000.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 2.1%

Shares of NUGT stock traded up $3.95 on Tuesday, reaching $188.95. 502,921 shares of the company’s stock were exchanged, compared to its average volume of 1,261,548. The company’s fifty day simple moving average is $159.88 and its 200 day simple moving average is $125.15. Direxion Daily Gold Miners Index Bull 2x Shares has a 52 week low of $34.46 and a 52 week high of $211.09. The stock has a market capitalization of $1.54 billion, a PE ratio of 22.41 and a beta of 1.08.

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.