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

The Direxion Daily Gold Miners Index Bull 2X Shares (formerly, the Direxion Daily Gold Miners Index Bull 3X Shares) (the "Fund") seeks daily leveraged investment results and is very different from most other exchange-traded funds. As a result, the Fund may be riskier than alternatives that do not use leverage because the Fund's objective is to magnify the daily performance of the NYSE Arca Gold Miners Index (the "Index").

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

As of November 15, 2024, NUGT stock price declined to $38.63 with 2,315,712 million shares trading.

NUGT has a beta of 2.01, meaning it tends to be more sensitive to market movements. NUGT has a correlation of 0.14 to the broad based SPY ETF.

NUGT has a market cap of $515.78 million. This is considered a Small Cap stock.

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

NUGT has outperformed the market in the last year with a return of +36.7%, while the SPY ETF gained +31.8%. However, in the most recent history, NUGT shares have underperformed the stock market with its stock returning -13.2% in the last 3 month period and -21.6% for the last 2 week period, while SPY has returned +6.2% and +2.6%, respectively.

NUGT support price is $37.49 and resistance is $40.83 (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 shares will trade within this expected range on the day.