Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Reaches New 52-Week High – Still a Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) hit a new 52-week high during trading on Monday . The stock traded as high as $306.40 and last traded at $309.9430, with a volume of 171965 shares. The stock had previously closed at $282.24.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market capitalization of $1.70 billion, a PE ratio of 22.41 and a beta of 1.08. The company’s fifty day simple moving average is $191.83 and its 200-day simple moving average is $144.12.

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

Several institutional investors have recently bought and sold shares of NUGT. FNY Investment Advisers LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $557,000. Savvy Advisors Inc. purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth approximately $498,000. Simplex Trading LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at $1,004,000. Crosspoint Financial LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at $282,000. Finally, Qube Research & Technologies Ltd purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at $990,000.

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.