|Bid||7.63 x 900|
|Ask||7.65 x 3100|
|Day's Range||7.41 - 7.78|
|52 Week Range||6.40 - 48.79|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||0.46|
|Expense Ratio (net)||1.05%|
Gold is soaring this month. In other words, these are dangerous times to be dancing with inverse leveraged gold miners funds, including those targeting junior miners, but data confirm that is exactly what some traders are doing and they are making those bearish bets with the Direxion Daily Junior Gold Miners Index Bear 3X Shares (NYSE: JDST). JDST attempts to deliver triple the daily inverse returns of the MVIS Global Junior Gold Miners Index (MVGDXJTR).
For traders loving leverage with gold miners exchange-traded funds, the Direxion Daily Gold Miners Index Bull 3X Shares (NYSE: NUGT) has been the place to be. As was noted last week, traders have been embracing NUGT's bearish cousin, the Direxion Daily Gold Miners Index Bear 3X Shares (NYSE: DUST), in a big way, a theme that has continued over the past several days.
The Direxion Daily Gold Miners Index Bull 3X Shares (NUGT), one of the most heavily traded leveraged exchange traded funds, is on a tear. NUGT is up 13.45% over the past week and higher by more than 45% this month, prompting some market observers to speculate the fund could be poised for a breather. NUGT seeks daily investment results, before fees and expenses, of 300% of the daily performance of the NYSE Arca Gold Miners Index, according to the fund’s fact sheet.
The NYSE Arca Gold Miners Index (GDMNTR), one of the most widely followed gauges of gold mining equities, is flat over the past week, but if leveraged exchange-traded funds prove to be accurate guides, ...
Once Bitcoin spiked liked energy levels after a can of Red Bull near the end of 2017, it also came crashing down in 2018, but 2019 is seeing the leading cryptocurrency rise over 150 percent to its current price of just under $8,700. “A lot of people got suckered into this pump-and-dump scheme because they heard all the stories about young kids taking their Bar Mitzvah money into bitcoin and bought a Lambo," said Schiff at the 2019 SALT Conference. Bitcoin purveyors have often referred to the cryptocurrency as the new replacement of gold.
DUST seeks daily investment results before fees and expenses of 300 percent of the inverse of the daily performance of the NYSE Arca Gold Miners Index. Furthermore, investors can consider funds like the VanEck Vectors ® Real Asset Allocation ETF (RAAX) .
Volatility and uncertainty has resulted in a strong demand for leveraged and inverse-leveraged ETFs as these could fetch outsized returns on quick market turns in a short span.
Although none of the 11 GICS sectors fared particularly well in 2018, the materials sector faced some of the harshest headwinds. Companies aiming to develop and process raw materials were battered by the uncertainty surrounding trade battles between China and the U.
The long-term performance of Kinross Gold (NYSE:KGC)stock has been, to put it bluntly, disappointing. Indeed, the KGC stock price today is nearly half of what it was in mid-2016, and it’s down 85% since the high it reached in 2011. Tepid gold prices get the bulk of the blame for the poor performance of KGC stock.
Gold prices stumbled for the third straight day in a row, taking the shine off gold bulls, but benefitting inverse gold exchange-traded funds (ETFs) like the Direxion Daily Gold Miners Bear 3X ETF (DUST) . Gold bulls blame a post-midterm election rally that has fueled the greenback in addition to U.S. equities. It didn't help much when the Federal Reserve announced on Thursday that it was keeping interest rates unchanged, but maintained a hawkish stance on an interest rate hike in December--the fourth and final rate hike to end 2018.
Benchmark Treasury yields retreated today as government debt issues took a reprieve from their ascent last week, which put downward pressure on U.S. equities. The strength in the greenback combined with rising rates have already pumped the brakes on gold prices rising, but now rising yields have also suppressed any price increases in the precious metal. This spike in U.S. government debt yields has certainly benefitted these five ETPs with their strong year-to-date performances. 1.
As has been widely documented, gold miners stocks and the related exchange traded funds are getting drubbed this year. The VanEck Vectors Gold Miners ETF (NYSEArca: GDX ), the largest exchange traded fund dedicated to gold mining stocks, entered Monday with a year-to-date loss of more than 22%. An overlooked scenario is one of the reasons why gold mining equities are flailing this year.
Gold is down only 8% this year, but it’s off almost 13% from its high. For some reason, it has lost its allure as a hedge to inflation and global turmoil. The main culprit may just be the US dollar, which is only back to where it was in mid-2017. It’s tough to say why gold lost its glitter as a hedge—maybe investors are looking at other alternatives like bitcoin as a store of value in uncertain times.
With gold prices slumping, mining stocks and the related exchange traded funds are feeling the heat. Over the past month, the VanEck Vectors Gold Miners ETF (NYSEArca: GDX), the largest exchange traded ...