Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Up 8.8% – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares traded up 8.8% during trading on Monday . The company traded as high as $245.86 and last traded at $245.6670. 275,244 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 875,604 shares. The stock had previously closed at $225.87.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company has a 50 day moving average of $211.41 and a two-hundred day moving average of $156.44. The company has a market capitalization of $1.39 billion, a PE ratio of 22.41 and a beta of 1.08.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NUGT. Belvedere Trading LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth about $435,000. Brookstone Capital Management bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth approximately $526,000. Client First Investment Management LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth approximately $7,719,000. Simplex Trading LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter worth approximately $1,004,000. Finally, IMC Chicago LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at approximately $10,013,000.

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.