Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Down – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares gapped down before the market opened on Thursday . The stock had previously closed at $167.38, but opened at $157.00. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $163.80, with a volume of 299,197 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 6.7%

The stock has a market capitalization of $866.69 million, a P/E ratio of 22.41 and a beta of 1.08. The business’s 50 day simple moving average is $241.63 and its two-hundred day simple moving average is $189.30.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after buying an additional 725 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth $71,000. Caitlin John LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth $164,000. Federation des caisses Desjardins du Quebec grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock worth $189,000 after acquiring an additional 220 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at about $232,000.

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.