Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Up 4.9% – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) rose 4.9% during trading on Tuesday . The company traded as high as $43.43 and last traded at $43.35. Approximately 743,612 shares traded hands during trading, a decline of 67% from the average daily volume of 2,225,925 shares. The stock had previously closed at $41.33.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 0.5 %

The stock has a market cap of $630.39 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The company’s 50-day simple moving average is $48.14 and its 200-day simple moving average is $45.25.

Hedge Funds Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUGT. Fore Capital LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at $1,691,000. IMC Chicago LLC raised 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 purchasing an additional 19,599 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at $505,000. Headlands Technologies LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at $195,000. Finally, HighTower Advisors LLC raised 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 valued at $564,000 after purchasing an additional 4,605 shares in the last quarter.

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.