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

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) saw unusually-strong trading volume on Tuesday . Approximately 619,772 shares traded 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 $574.57 million, a PE ratio of 19.80 and a beta of 1.57. The stock’s 50-day moving average price is $41.21 and its two-hundred day moving average price is $44.97.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NUGT. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock valued at $589,000 after acquiring an additional 3,409 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after purchasing an additional 4,605 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth $195,000. Virtu Financial LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth about $505,000. Finally, IMC Chicago LLC lifted its stake in 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 acquiring an additional 19,599 shares during the period.

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.