Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Up 6.3% – Time to Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price traded up 6.3% during mid-day trading on Wednesday . The stock traded as high as $160.78 and last traded at $162.0820. 272,716 shares traded hands during trading, a decline of 79% from the average session volume of 1,311,510 shares. The stock had previously closed at $152.41.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 8.9%

The company has a market capitalization of $1.35 billion, a P/E ratio of 22.41 and a beta of 1.08. The business has a 50 day moving average price of $146.01 and a 200 day moving average price of $105.71.

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

Several institutional investors and hedge funds have recently made changes to their positions in NUGT. Tower Research Capital LLC TRC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after acquiring an additional 725 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $71,000. Headlands Technologies LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter valued at approximately $103,000. Caitlin John LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $164,000. Finally, PFG Investments LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $232,000.

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.