Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Up 3.1% – Time to Buy?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) traded up 3.1% on Monday . The stock traded as high as $59.99 and last traded at $59.71. 190,669 shares were traded during trading, a decline of 92% from the average session volume of 2,246,040 shares. The stock had previously closed at $57.90.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company’s 50-day moving average is $49.24 and its 200-day moving average is $43.90. The firm has a market capitalization of $884.86 million, a price-to-earnings ratio of 19.80 and a beta of 1.57.

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

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth $49,000. 180 Wealth Advisors LLC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 12.5% during the first quarter. 180 Wealth Advisors LLC now owns 7,123 shares of the exchange traded fund’s stock worth $245,000 after acquiring an additional 792 shares during the last quarter. Hollencrest Capital Management raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 50.0% in the 1st quarter. Hollencrest Capital Management now owns 900 shares of the exchange traded fund’s stock worth $31,000 after purchasing an additional 300 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter valued at about $856,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth about $2,193,000.

About Direxion Daily Gold Miners Index Bull 2x Shares

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.