Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Up 8.4% – Time to Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price were up 8.4% on Thursday . The company traded as high as $46.68 and last traded at $46.96. Approximately 849,956 shares traded hands during trading, a decline of 43% from the average daily volume of 1,498,480 shares. The stock had previously closed at $43.32.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 2.1 %

The company has a market capitalization of $670.38 million, a PE ratio of 19.80 and a beta of 1.57. The firm has a 50 day simple moving average of $40.32 and a two-hundred day simple moving average of $45.03.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NUGT. IMC Chicago LLC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% in the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock valued at $4,256,000 after acquiring an additional 78,230 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock worth $589,000 after acquiring an additional 3,409 shares in the last quarter. HighTower Advisors LLC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 4,605 shares in the last quarter. PFG Investments LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at $364,000. Finally, Virtu Financial LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at about $505,000.

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.