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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGTGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $211.80 and last traded at $211.65, with a volume of 547038 shares changing hands. The stock had previously closed at $195.06.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market capitalization of $1.24 billion, a P/E ratio of 22.41 and a beta of 1.08. The stock’s 50-day simple moving average is $164.04 and its two-hundred day simple moving average is $128.20.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Hedge funds have recently made changes to their positions in the company. IMC Chicago LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at $10,013,000. Client First Investment Management LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at $7,719,000. Simplex Trading LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth $1,004,000. Qube Research & Technologies Ltd purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth about $990,000. Finally, FNY Investment Advisers LLC raised its position in Direxion Daily Gold Miners Index Bull 2x Shares by 60.0% in the 3rd quarter. FNY Investment Advisers LLC now owns 12,000 shares of the exchange traded fund’s stock worth $1,853,000 after purchasing an additional 4,500 shares during the period.

Direxion Daily Gold Miners Index Bull 2x Shares Company Profile

(Get Free Report)

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.

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