NUGT Profile
The Gold Miners Bull 2X ETF (exchange-traded fund) by Direxion, with the ticker symbol NUGT, seeks to provide 200% daily leveraged exposure to the NYSE Arca Gold Miners Index, which tracks the performance of companies involved in the gold mining industry. The ETF aims to achieve this by investing in a combination of financial instruments, such as swaps, futures contracts, and other derivatives, as well as physical gold bullion. As a leveraged ETF, NUGT is designed to amplify the daily returns of its underlying index, but it is not intended to provide 200% of the index's return over periods longer than one day due to compounding effects. Therefore, this ETF is considered to be more suitable for short-term traders and investors with a higher risk tolerance who are seeking to profit from short-term price movements in the gold mining sector.
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