Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading 5.4% Higher – Time to Buy?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) rose 5.4% during mid-day trading on Tuesday . The stock traded as high as $43.05 and last traded at $43.22. Approximately 282,731 shares were traded during mid-day 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 Down 0.2 %

The stock has a market cap of $623.65 million, a PE ratio of 19.80 and a beta of 1.57. The business has a 50 day moving average price of $40.10 and a 200 day moving average price of $45.09.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NUGT. PFG Investments LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at $364,000. 180 Wealth Advisors LLC grew its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the fourth 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 period. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth about $505,000. HighTower Advisors LLC raised its position in shares of 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 worth $564,000 after purchasing an additional 4,605 shares during the last quarter. Finally, IMC Chicago LLC raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the 3rd quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock worth $2,126,000 after purchasing an additional 19,599 shares during 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.