Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Hits New 1-Year High – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $257.74 and last traded at $258.3620, with a volume of 241747 shares trading hands. The stock had previously closed at $234.92.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The firm has a market capitalization of $1.52 billion, a PE ratio of 22.41 and a beta of 1.08. The company’s 50-day moving average price is $186.68 and its 200-day moving average price is $140.77.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of NUGT. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter worth $307,000. Redhawk Wealth Advisors Inc. acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at approximately $368,000. JPMorgan Chase & Co. lifted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,676 shares of the exchange traded fund’s stock worth $413,000 after purchasing an additional 771 shares during the period. FNY Investment Advisers LLC grew its holdings 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 valued at $1,853,000 after buying an additional 4,500 shares during the period. Finally, NewEdge Advisors LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth approximately $333,000.

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.