Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Up 6.4% – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price shot up 6.4% on Thursday . The company traded as high as $182.33 and last traded at $184.2610. 425,692 shares changed hands during trading, a decline of 67% from the average session volume of 1,284,903 shares. The stock had previously closed at $173.21.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock’s fifty day simple moving average is $152.38 and its two-hundred day simple moving average is $114.67. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08.

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

Several large investors have recently made changes to their positions in the company. Simplex Trading LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at $1,004,000. Crosspoint Financial LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at about $282,000. Jump Financial LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter valued at about $8,235,000. FNY Investment Advisers LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth about $557,000. Finally, Savvy Advisors Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth about $498,000.

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.