Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Sets New 1-Year High – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price reached a new 52-week high on Monday . The stock traded as high as $320.79 and last traded at $308.9150, with a volume of 301029 shares traded. The stock had previously closed at $313.53.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 2.7%

The firm has a fifty day moving average of $238.73 and a two-hundred day moving average of $175.77. The company has a market capitalization of $1.69 billion, a PE ratio of 22.41 and a beta of 1.08.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. IMC Chicago LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth about $10,013,000. Client First Investment Management LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at approximately $7,719,000. Virtu Financial LLC boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% during the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock valued at $6,554,000 after purchasing an additional 30,151 shares in the last quarter. HRT Financial LP boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% during the fourth quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock valued at $6,366,000 after purchasing an additional 27,411 shares in the last quarter. Finally, Simplex Trading LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth $1,004,000.

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.