Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Up 8.9% – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price traded up 8.9% during mid-day trading on Monday . The stock traded as high as $159.65 and last traded at $158.51. 721,656 shares were traded during mid-day trading, a decline of 12% from the average session volume of 819,660 shares. The stock had previously closed at $145.54.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock’s 50-day moving average price is $245.86 and its 200 day moving average price is $188.85. The firm has a market capitalization of $857.42 million, a PE ratio of 22.41 and a beta of 1.08.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 3.2% during the fourth quarter. NewEdge Advisors LLC now owns 2,224 shares of the exchange traded fund’s stock valued at $409,000 after purchasing an additional 69 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 12.2% during the fourth quarter. HighTower Advisors LLC now owns 1,721 shares of the exchange traded fund’s stock valued at $316,000 after buying an additional 187 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after buying an additional 220 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 11.1% in the 4th quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock valued at $759,000 after buying an additional 413 shares in the last quarter. Finally, CreativeOne Wealth LLC boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 32.9% in the 4th quarter. CreativeOne Wealth LLC now owns 2,219 shares of the exchange traded fund’s stock valued at $408,000 after buying an additional 549 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.