Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Up 6.3% – Should You Buy?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) traded up 6.3% during trading on Tuesday . The stock traded as high as $52.32 and last traded at $51.75. 669,744 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 1,522,044 shares. The stock had previously closed at $48.66.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 6.0 %

The business has a 50-day simple moving average of $46.23 and a two-hundred day simple moving average of $46.09. The stock has a market capitalization of $609.74 million, a P/E ratio of 24.22 and a beta of 2.39.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Several large investors have recently made changes to their positions in the company. GTS Securities LLC increased its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 156.1% during the 4th quarter. GTS Securities LLC now owns 37,441 shares of the exchange traded fund’s stock valued at $1,316,000 after purchasing an additional 104,162 shares in the last quarter. IMC Chicago LLC increased its stake in shares of 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 buying an additional 78,230 shares in the last quarter. Seaview Investment Managers LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at $703,000. SBI Securities Co. Ltd. bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at about $666,000. Finally, EverSource Wealth Advisors LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth about $543,000.

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.