Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Up 4.9% – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price were up 4.9% during mid-day trading on Tuesday . The stock traded as high as $43.43 and last traded at $43.35. Approximately 743,612 shares were traded during trading, a decline of 67% from the average daily volume of 2,225,925 shares. The stock had previously closed at $41.33.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company has a market capitalization of $642.84 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The business has a 50-day simple moving average of $48.56 and a two-hundred day simple moving average of $45.28.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. IMC Chicago LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the third 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 in the last quarter. Headlands Technologies LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at about $195,000. Fore Capital LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth about $1,691,000. Harbour Investments Inc. grew its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.5% during the second quarter. Harbour Investments Inc. now owns 7,462 shares of the exchange traded fund’s stock worth $280,000 after buying an additional 1,608 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock worth $589,000 after buying an additional 3,409 shares in the last quarter.

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.