Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Hits New 12-Month High – Still a Buy?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) reached a new 52-week high during trading on Friday . The company traded as high as $61.89 and last traded at $61.44, with a volume of 1666687 shares traded. The stock had previously closed at $58.64.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 4.8 %

The business’s 50-day simple moving average is $50.62 and its 200 day simple moving average is $47.05. The company has a market capitalization of $620.54 million, a P/E ratio of 26.41 and a beta of 2.32.

Direxion Daily Gold Miners Index Bull 2x Shares Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th will be given a $0.1476 dividend. 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 is Tuesday, March 25th.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

Hedge funds and other institutional investors have recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth approximately $203,000. 180 Wealth Advisors LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after acquiring an additional 590 shares during the last quarter. Beacon Harbor Wealth Advisors Inc. boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% during the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock worth $246,000 after acquiring an additional 2,500 shares in the last quarter. PFG Investments LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter worth $364,000. Finally, Virtu Financial LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at $505,000.

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.