Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG)

[Montanore]

That's the word. They don't dilute these kinds of ETFs, but rather they conduct reverse splits or forward splits. Not so much the latter.

I've seen UVXY have so many reverse splits at around the $5 level that I'm amazed it doesn't have a 100 share float. It's gained some traction now due to the sharp market declines, but it still had to gain momentum. JNUG is the same--a few days of rising gold prices aren't enough...it has to be sustained, but I would not be surprised to see JNUG going right back down again tomorrow.