All Eyes Are Glued to a Leveraged Gold ETF That’s Trading Its Size in Volume
- Direxion’s $1.2 billion NUGT absorbs $1.8 billion in trades
- Gold hits lowest since July 2017, triggering action in fund
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Wall Street can’t keep its eyes off an exchange-traded fund with leveraged exposure to gold miners that’s already traded more than its size in volume Tuesday.
The Direxion Daily Gold Miners Bull 3X Shares, known by its ticker NUGT, has had more than 80 million shares, worth over $1.8 billion, trade as of 1:19 p.m. in New York. That’s the most volume the $1.2 billion fund has ever seen and 10 times the average daily turnover for the past year.