Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Up 4.4% – Time to Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price rose 4.4% on Thursday . The stock traded as high as $49.16 and last traded at $49.06. Approximately 1,563,969 shares changed hands during trading, a decline of 31% from the average daily volume of 2,271,438 shares. The stock had previously closed at $47.00.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 0.8 %

The business has a 50-day moving average price of $47.34 and a 200-day moving average price of $42.82. The firm has a market capitalization of $731.91 million, a P/E ratio of 19.80 and a beta of 1.57.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth approximately $49,000. 180 Wealth Advisors LLC lifted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 12.5% in the first quarter. 180 Wealth Advisors LLC now owns 7,123 shares of the exchange traded fund’s stock valued at $245,000 after acquiring an additional 792 shares during the last quarter. Hollencrest Capital Management grew its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 50.0% in the 1st quarter. Hollencrest Capital Management now owns 900 shares of the exchange traded fund’s stock valued at $31,000 after acquiring an additional 300 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth about $856,000. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter valued at about $2,193,000.

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.