NUGT Stock Summary and Trading Ideas (Direxion Daily Gold Miners Bull 2X | ARCA:NUGT)

The Daily Gold Miners Bull 2x Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the NYSE Arca Gold Miners Index. Potentially hedge exposure to equity and fixed income market risk.

Direxion Daily Gold Miners Bull 2X trades on the ARCA stock market under the symbol NUGT.

As of April 19, 2024, NUGT stock price climbed to $39.51 with 2,367,892 million shares trading.

NUGT has a beta of 1.27, meaning it tends to be more sensitive to market movements. NUGT has a correlation of 0.06 to the broad based SPY ETF.

NUGT has a market cap of $598.65 million. This is considered a Small Cap stock.

In the last 3 years, NUGT stock traded as high as $82.86 and as low as $20.30.

NUGT stock has underperformed the market in the last year with a return of -15.1%, while SPY returned +21.2%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in NUGT shares. However, NUGT has outperformed the market in the last 3 month and 2 week periods, returning +45.3% and +7.3%, while SPY returned +4.3% and -3.5%, respectively. This indicates NUGT has been having a stronger performance recently.

NUGT support price is $37.09 and resistance is $40.45 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NUGT stock will trade within this expected range on the day.