Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Up 5.1% – Time to Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price traded up 5.1% during mid-day trading on Thursday . The stock traded as high as $61.27 and last traded at $61.63. 585,059 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 1,870,628 shares. The stock had previously closed at $58.64.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 0.8 %

The business’s 50-day simple moving average is $51.02 and its 200-day simple moving average is $47.18. The stock has a market cap of $615.49 million, a PE ratio of 26.41 and a beta of 2.32.

Direxion Daily Gold Miners Index Bull 2x Shares Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be issued a dividend of $0.1476 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This is an increase from Direxion Daily Gold Miners Index Bull 2x Shares’s previous dividend of $0.07.

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

A number of large investors have recently modified their holdings of NUGT. 180 Wealth Advisors LLC boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after purchasing an additional 590 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% during the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock valued at $246,000 after buying an additional 2,500 shares in the last quarter. HighTower Advisors LLC grew its position 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 buying an additional 4,605 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter worth about $203,000. Finally, Virtu Financial LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at about $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.