Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Sets New 12-Month High – Should You Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) reached a new 52-week high during trading on Friday . The company traded as high as $55.44 and last traded at $55.43, with a volume of 287919 shares changing hands. The stock had previously closed at $53.63.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 6.8 %

The stock has a market capitalization of $839.30 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The company’s 50 day moving average is $48.04 and its 200 day moving average is $43.27.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Pineridge Advisors LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter valued at $5,410,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth approximately $2,193,000. Fore Capital LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at approximately $1,691,000. Quadrature Capital Ltd acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter valued at approximately $856,000. Finally, Virtu Financial LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter valued at approximately $384,000.

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.