Direxion Daily Junior Gold Miners Index Bull 2X Shares (NYSEARCA:JNUG) Stock Cross Above 50 Day Moving Average – Here’s Why

Shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares (NYSEARCA:JNUG) passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $42.01 and traded as high as $42.68. Direxion Daily Junior Gold Miners Index Bull 2X Shares shares last traded at $40.61, with a volume of 1,290,525 shares changing hands.

Direxion Daily Junior Gold Miners Index Bull 2X Shares Stock Performance

The company has a market capitalization of $318.38 million, a P/E ratio of 22.18 and a beta of 1.90. The company has a 50-day simple moving average of $42.01 and a 200 day simple moving average of $44.06.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in JNUG. PFG Investments LLC bought a new position in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares in the second quarter valued at about $224,000. Virtu Financial LLC bought a new position in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares in the second quarter worth about $1,354,000. International Assets Investment Management LLC acquired a new position in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares during the third quarter worth approximately $911,000. Finally, HighTower Advisors LLC acquired a new stake in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares in the third quarter valued at approximately $211,000.

About Direxion Daily Junior Gold Miners Index Bull 2X Shares

The Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG) is an exchange-traded fund that is based on the MVIS Global Junior Gold Miners index. The fund provides daily 2x exposure to an index of junior gold and silver mining companies from developed as well as emerging markets. JNUG was launched on Oct 3, 2013 and is managed by Direxion.