Direxion Daily Gold Miners Index Bull 2X Shares company info

What does Direxion Daily Gold Miners Index Bull 2X Shares do?
Direxion Daily Gold Miners Index Bull 2X Shares (NYSEARCA:NUGT) is a specialized investment fund designed to provide investors with leveraged exposure to the global gold mining industry. This fund aims to achieve daily investment results, before fees and expenses, of 200% of the performance of the NYSE Arca Gold Miners Index. The primary objective of Direxion Daily Gold Miners Index Bull 2X Shares is to offer investment opportunities to those seeking to leverage the movements in the gold mining sector. By employing derivatives such as futures and swaps, the fund seeks to amplify the daily index returns, making it an attractive option for aggressive investors with a bullish outlook on gold mining stocks. Its operations focus on managing and adjusting its derivative positions to maintain the desired leverage ratio, providing a tool for investors to potentially capitalize on short-term gains in the gold mining industry.
Direxion Daily Gold Miners Index Bull 2X Shares company media
Company Snapshot

Is Direxion Daily Gold Miners Index Bull 2X Shares a public or private company?

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Ownership
Public

How many people does Direxion Daily Gold Miners Index Bull 2X Shares employ?

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Employees
56

What sector is Direxion Daily Gold Miners Index Bull 2X Shares in?

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Sector
ETF

Where is the head office for Direxion Daily Gold Miners Index Bull 2X Shares?

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Head Office
New York, United States

What year was Direxion Daily Gold Miners Index Bull 2X Shares founded?

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Year Founded
2010
What does Direxion Daily Gold Miners Index Bull 2X Shares specialise in?
/Leveraged ETF /Gold Mining /Daily Rebalancing /Bullish Investment /Equity Exposure /Commodities Trading

What are the products and/or services of Direxion Daily Gold Miners Index Bull 2X Shares?

Overview of Direxion Daily Gold Miners Index Bull 2X Shares offerings
Targets 2x Daily Returns of Gold Miners Index: NUGT seeks to achieve daily returns that are 200% of the performance of the NYSE Arca Gold Miners Index. This index tracks a basket of leading gold mining companies.
Leveraged Instrument: NUGT uses leverage to amplify gains (and losses) based on the underlying index. This means that small changes in the index can lead to larger movements in the price of NUGT.
Focus on Gold Mining Industry: By investing in NUGT, you gain exposure to the gold mining industry. The value of NUGT is influenced by factors affecting gold prices and the performance of gold mining companies.
Potential for Amplified Gains: If the price of gold and the NYSE Arca Gold Miners Index go up, NUGT has the potential to deliver amplified returns of 2 times the daily increase.
Potential for Amplified Losses: Conversely, if the price of gold and the index go down, NUGT could experience amplified losses of 2 times the daily decrease. Due to compounding effects, holding NUGT for longer periods than one day may result in returns significantly different than 2x the daily return of the underlying index.
Geared for Short-Term Trading: NUGT is designed for short-term trading due to the compounding effect of leverage. Holding it for extended periods may not deliver the anticipated returns due to daily reset mechanisms.