Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Up 5.4% – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price rose 5.4% during trading on Tuesday . The company traded as high as $43.05 and last traded at $43.22. Approximately 282,731 shares were traded during trading, a decline of 83% from the average daily volume of 1,636,733 shares. The stock had previously closed at $41.00.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company’s 50-day simple moving average is $39.97 and its two-hundred day simple moving average is $45.10. The firm has a market cap of $629.76 million, a PE ratio of 19.80 and a beta of 1.57.

Hedge Funds Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Several institutional investors have recently bought and sold shares of NUGT. 180 Wealth Advisors LLC boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after purchasing an additional 590 shares during the last quarter. Virtu Financial LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at approximately $505,000. HighTower Advisors LLC grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after buying an additional 4,605 shares in the last quarter. IMC Chicago LLC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% in the 3rd quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock worth $2,126,000 after acquiring an additional 19,599 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock worth $589,000 after acquiring an additional 3,409 shares in the last quarter.

Direxion Daily Gold Miners Index Bull 2x Shares Company Profile

The Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) is an exchange-traded fund that is based on the NYSE Arca Gold Miners (NTR) index. The fund provides 2x leveraged exposure to a market-cap-weighted index of global gold and silver mining firms. NUGT was launched on Dec 8, 2010 and is managed by Direxion.