Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Sees Strong Trading Volume – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) saw an uptick in trading volume on Tuesday . 619,772 shares changed hands during trading, a decline of 47% from the previous session’s volume of 1,177,702 shares.The stock last traded at $38.82 and had previously closed at $36.44.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock has a market capitalization of $557.73 million, a P/E ratio of 19.80 and a beta of 1.57. The firm has a fifty day moving average price of $41.83 and a two-hundred day moving average price of $45.01.

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

Hedge funds have recently modified their holdings of the business. HighTower Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 4,605 shares in the last quarter. IMC Chicago LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the 3rd quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock valued at $2,126,000 after buying an additional 19,599 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at approximately $195,000. Fore Capital LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter worth approximately $1,691,000. Finally, Virtu Financial LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $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.