Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading 10.3% Higher – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price rose 10.3% during mid-day trading on Monday . The company traded as high as $45.66 and last traded at $45.50. Approximately 1,678,115 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 2,217,186 shares. The stock had previously closed at $41.24.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 0.2 %

The company has a market capitalization of $640.06 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The company’s 50 day simple moving average is $47.44 and its 200-day simple moving average is $45.25.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NUGT. Headlands Technologies LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at $195,000. Harbour Investments Inc. grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 27.5% in the 2nd quarter. Harbour Investments Inc. now owns 7,462 shares of the exchange traded fund’s stock valued at $280,000 after buying an additional 1,608 shares during the period. Virtu Financial LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at about $505,000. HighTower Advisors LLC lifted its holdings 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 acquiring an additional 4,605 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% in 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 acquiring an additional 3,409 shares during 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.