Gold Miner ETFs have been extremely active in the past couple days on heavy volume and mostly a uni-directional rally.

GDX (Market Vectors Gold Miners, Expense Ratio 0.52%) has reeled in nearly $400 million in the past couple days while NUGT (Direxion Daily Gold Miners Bull 3X Shares, Expense Ratio 0.95%) has seen more than $700 million flow out of the fund, which is likely profit taking into the recent move.

Conversely, DUST (Direxion Daily Gold Miners Bear 3X Shares, Expense Ratio 0.95%) has also been active, taking in +$200 million amid record volume in the product.

We continue to see very heavy activity in the sector here nearing the end of August.

Recent inflows to GDX have raised its asset base now to $5.6 billion, despite poor performance in both the trailing one year and trailing five year periods.

Likewise, traders and institutional investors increasingly continue to gravitate to two Direxion ETFs that are quickly becoming household names since their late 2010 inception.

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