Direxion Daily Gold Miners Index Bear 2x Shares (NYSEARCA:DUST) Shares Up 5.5% – Time to Buy?

Direxion Daily Gold Miners Index Bear 2x Shares (NYSEARCA:DUST)’s stock price rose 5.5% during mid-day trading on Friday . The company traded as high as $46.49 and last traded at $46.27. Approximately 515,251 shares traded hands during trading, a decline of 41% from the average daily volume of 871,414 shares. The stock had previously closed at $43.84.

Direxion Daily Gold Miners Index Bear 2x Shares Stock Performance

The stock has a 50 day simple moving average of $57.25 and a 200-day simple moving average of $280.07.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DUST. Virtu Financial LLC increased its position in Direxion Daily Gold Miners Index Bear 2x Shares by 163.9% during the third quarter. Virtu Financial LLC now owns 560,878 shares of the exchange traded fund’s stock valued at $2,995,000 after acquiring an additional 348,346 shares during the last quarter. Spire Wealth Management purchased a new stake in Direxion Daily Gold Miners Index Bear 2x Shares during the fourth quarter valued at $254,000. JPMorgan Chase & Co. increased its position in Direxion Daily Gold Miners Index Bear 2x Shares by 131.9% during the fourth quarter. JPMorgan Chase & Co. now owns 443 shares of the exchange traded fund’s stock valued at $30,000 after acquiring an additional 252 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Direxion Daily Gold Miners Index Bear 2x Shares during the fourth quarter valued at $3,438,000.

About Direxion Daily Gold Miners Index Bear 2x Shares

The Direxion Daily Gold Miners Index Bear 2X Shares (DUST) is an exchange-traded fund that is based on the NYSE Arca Gold Miners (NTR) index. The fund provides 2x inverse exposure to a market-cap-weighted index of global gold and silver mining firms. DUST was launched on Dec 8, 2010 and is managed by Direxion.