Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 5.7% – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price were down 5.7% during trading on Wednesday . The stock traded as low as $226.30 and last traded at $232.00. Approximately 223,999 shares changed hands during trading, a decline of 72% from the average daily volume of 805,659 shares. The stock had previously closed at $246.11.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 4.6%

The company has a 50 day simple moving average of $246.57 and a 200-day simple moving average of $183.86. The stock has a market capitalization of $1.30 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08.

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

Several large investors have recently made changes to their positions in NUGT. Tower Research Capital LLC TRC increased its position in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after buying an additional 725 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at approximately $71,000. Caitlin John LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $164,000. Federation des caisses Desjardins du Quebec increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after acquiring an additional 220 shares in the last quarter. Finally, PFG Investments LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at approximately $232,000.

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.