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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares rose 10.3% during mid-day trading on Monday . The stock traded as high as $45.66 and last traded at $45.50. Approximately 1,678,115 shares were traded during 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 Price Performance

The firm has a market cap of $651.34 million, a P/E ratio of 19.80 and a beta of 1.57. The stock’s 50 day moving average is $47.71 and its two-hundred day moving average is $45.21.

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

A number of institutional investors and hedge funds have recently made changes to their positions in NUGT. Fore Capital LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at $1,691,000. IMC Chicago LLC increased its holdings in 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 worth $2,126,000 after purchasing an additional 19,599 shares in the last quarter. Virtu Financial LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth about $505,000. Headlands Technologies LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth about $195,000. Finally, HighTower Advisors LLC lifted its position 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 buying an additional 4,605 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.