Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Hits New 12-Month High – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price hit a new 52-week high on Friday . The stock traded as high as $61.89 and last traded at $61.44, with a volume of 1666687 shares trading hands. The stock had previously closed at $58.64.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market cap of $620.54 million, a P/E ratio of 26.41 and a beta of 2.32. The stock’s 50 day moving average is $50.62 and its two-hundred day moving average is $47.05.

Direxion Daily Gold Miners Index Bull 2x Shares Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be paid a $0.1476 dividend. This is a positive change from Direxion Daily Gold Miners Index Bull 2x Shares’s previous dividend of $0.07. The ex-dividend date is Tuesday, March 25th.

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

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter valued at about $203,000. 180 Wealth Advisors LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock worth $230,000 after buying an additional 590 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. raised its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% in the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock valued at $246,000 after acquiring an additional 2,500 shares during the last quarter. PFG Investments LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at approximately $364,000. Finally, Virtu Financial LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth approximately $505,000.

About Direxion Daily Gold Miners Index Bull 2x Shares

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.