Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Reaches New 12-Month High – Time to Buy?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) reached a new 52-week high on Friday . The stock traded as high as $61.89 and last traded at $61.44, with a volume of 1666687 shares. The stock had previously closed at $58.64.

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

The firm has a fifty day moving average price of $51.02 and a 200 day moving average price of $47.20. The company has a market cap of $615.49 million, a P/E 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. Stockholders of record on Tuesday, March 25th will be given a dividend of $0.1476 per share. The ex-dividend date of this dividend is Tuesday, March 25th. This is a positive change from Direxion Daily Gold Miners Index Bull 2x Shares’s previous dividend of $0.07.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUGT. GTS Securities LLC increased its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 156.1% in the 4th quarter. GTS Securities LLC now owns 37,441 shares of the exchange traded fund’s stock worth $1,316,000 after acquiring an additional 104,162 shares during the last quarter. IMC Chicago LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% during the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock worth $4,256,000 after purchasing an additional 78,230 shares during the period. Seaview Investment Managers LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth about $703,000. SBI Securities Co. Ltd. purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth about $666,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter valued at approximately $543,000.

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.