Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading 6.6% Higher – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price shot up 6.6% during mid-day trading on Thursday . The company traded as high as $62.30 and last traded at $62.16. 593,830 shares were traded during trading, a decline of 68% from the average session volume of 1,848,959 shares. The stock had previously closed at $58.31.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock has a market capitalization of $620.46 million, a PE ratio of 29.18 and a beta of 1.68. The firm’s 50 day moving average is $54.42 and its two-hundred day moving average is $47.91.

Direxion Daily Gold Miners Index Bull 2x Shares Increases Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were issued a dividend of $0.1476 per share. This is an increase from Direxion Daily Gold Miners Index Bull 2x Shares’s previous dividend of $0.07. The ex-dividend date of this dividend was Tuesday, March 25th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after acquiring an additional 4,605 shares during the last quarter. Virtu Financial LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $505,000. 180 Wealth Advisors LLC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after purchasing an additional 590 shares during the last quarter. PFG Investments LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth approximately $364,000. Finally, IMC Chicago LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the 4th quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock worth $4,256,000 after buying an additional 78,230 shares during 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.