Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading 5.1% Higher – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price shot up 5.1% during trading on Thursday . The company traded as high as $61.27 and last traded at $61.63. 585,059 shares traded hands during trading, a decline of 69% from the average session volume of 1,870,628 shares. The stock had previously closed at $58.64.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company’s 50 day moving average price is $50.20 and its two-hundred day moving average price is $46.95. The stock has a market capitalization of $615.70 million, a PE ratio of 26.41 and a beta of 2.32.

Direxion Daily Gold Miners Index Bull 2x Shares Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.1476 per share. The ex-dividend date is Tuesday, March 25th. This is a positive change from Direxion Daily Gold Miners Index Bull 2x Shares’s previous dividend of $0.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NUGT. HighTower Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 4,605 shares during the period. Virtu Financial LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at approximately $505,000. 180 Wealth Advisors LLC boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after buying an additional 590 shares in the last quarter. PFG Investments LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth $364,000. Finally, IMC Chicago LLC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% in the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock valued at $4,256,000 after acquiring an additional 78,230 shares during the period.

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.