Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT – Get Free Report) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totaling 380,568 shares, a growth of 18.5% from the March 31st total of 321,146 shares. Based on an average daily volume of 562,522 shares, the days-to-cover ratio is presently 0.7 days. Currently, 6.9% of the company’s stock are sold short.
Hedge Funds Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares
A number of hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at $10,013,000. Virtu Financial LLC raised its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in the 4th quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock worth $6,554,000 after acquiring an additional 30,151 shares during the period. HRT Financial LP lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% during the 4th quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock worth $6,366,000 after acquiring an additional 27,411 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at about $990,000. Finally, Jump Financial LLC boosted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 173.3% during the fourth quarter. Jump Financial LLC now owns 20,651 shares of the exchange traded fund’s stock valued at $3,797,000 after acquiring an additional 13,095 shares during the period.
Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 2.8%
Shares of NUGT traded down $4.83 during midday trading on Friday, reaching $166.02. 406,018 shares of the stock were exchanged, compared to its average volume of 745,835. Direxion Daily Gold Miners Index Bull 2x Shares has a 12-month low of $57.10 and a 12-month high of $320.79. The firm has a 50 day simple moving average of $213.13 and a 200-day simple moving average of $198.61. The company has a market cap of $971.22 million, a price-to-earnings ratio of 22.41 and a beta of 1.18.
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.
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