Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Up 6.5% – Should You Buy?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) rose 6.5% during trading on Wednesday . The company traded as high as $51.58 and last traded at $51.32. Approximately 625,891 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 1,514,523 shares. The stock had previously closed at $48.19.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 5.2 %

The company has a market cap of $742.84 million, a PE ratio of 19.80 and a beta of 1.57. The firm’s 50-day simple moving average is $40.53 and its two-hundred day simple moving average is $45.00.

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

A number of large investors have recently bought and sold shares of the business. IMC Chicago LLC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock valued at $4,256,000 after purchasing an additional 78,230 shares in the last quarter. PFG Investments LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth about $364,000. 180 Wealth Advisors LLC increased its stake in 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 worth $230,000 after buying an additional 590 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth approximately $505,000. Finally, HighTower Advisors LLC raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the third 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 period.

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.