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

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

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market cap of $670.38 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The business’s 50-day moving average price is $40.32 and its two-hundred day moving average price is $45.03.

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

Hedge funds have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after acquiring an additional 4,605 shares during the last quarter. IMC Chicago LLC lifted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the 3rd quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock valued at $2,126,000 after acquiring an additional 19,599 shares in the last quarter. 180 Wealth Advisors LLC boosted its position 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 purchasing an additional 590 shares during the period. Virtu Financial LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth about $505,000. 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 buying an additional 3,409 shares during the period.

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.