Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Up 6.6% – Time to Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price shot up 6.6% on Thursday . The company traded as high as $62.30 and last traded at $62.16. 593,830 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 1,848,959 shares. The stock had previously closed at $58.31.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 10.6 %

The company has a market capitalization of $564.42 million, a price-to-earnings ratio of 29.18 and a beta of 1.68. The firm has a 50 day moving average price of $53.63 and a two-hundred day moving average price of $47.71.

Direxion Daily Gold Miners Index Bull 2x Shares Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 25th were given a $0.1476 dividend. This is a positive change from Direxion Daily Gold Miners Index Bull 2x Shares’s previous dividend of $0.07. The ex-dividend date was Tuesday, March 25th.

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

Hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC raised its stake 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 buying an additional 4,605 shares in the last quarter. IMC Chicago LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% in the 4th quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock valued at $4,256,000 after acquiring an additional 78,230 shares during the last quarter. 180 Wealth Advisors LLC raised 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 in the last quarter. Virtu Financial LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth $505,000. Finally, PFG Investments LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth $364,000.

Direxion Daily Gold Miners Index Bull 2x Shares Company Profile

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.