Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Up 5.2% – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares were up 5.2% during trading on Monday . The company traded as high as $79.71 and last traded at $79.57. Approximately 561,492 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 1,657,462 shares. The stock had previously closed at $75.64.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The firm has a 50-day moving average price of $71.21 and a two-hundred day moving average price of $56.01. The firm has a market cap of $595.50 million, a price-to-earnings ratio of 22.41 and a beta of 1.08.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. SBI Securities Co. Ltd. acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at about $666,000. Beacon Harbor Wealth Advisors Inc. lifted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% in the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock valued at $246,000 after buying an additional 2,500 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth approximately $543,000. Seaview Investment Managers LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at $703,000. Finally, Tudor Investment Corp ET AL purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at $203,000.

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.