Belvedere Trading LLC Invests $435,000 in Direxion Daily Gold Miners Index Bull 2x Shares $NUGT

Belvedere Trading LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 2,817 shares of the exchange traded fund’s stock, valued at approximately $435,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 75.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,902 shares of the exchange traded fund’s stock worth $290,000 after purchasing an additional 1,674 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth $557,000. Savvy Advisors Inc. purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth $498,000. Simplex Trading LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth $1,004,000. Finally, Crosspoint Financial LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at $282,000.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

NYSEARCA NUGT opened at $231.71 on Wednesday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. The stock’s fifty day moving average price is $174.49 and its 200 day moving average price is $134.19. Direxion Daily Gold Miners Index Bull 2x Shares has a 1 year low of $38.17 and a 1 year high of $238.47.

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.