Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Down 8% – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price fell 8% during trading on Tuesday . The company traded as low as $149.85 and last traded at $150.27. 283,205 shares were traded during trading, a decline of 61% from the average session volume of 718,073 shares. The stock had previously closed at $163.42.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 5.2%

The firm has a 50-day moving average of $194.10 and a two-hundred day moving average of $201.65. The firm has a market capitalization of $906.17 million, a P/E ratio of 22.41 and a beta of 1.18.

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

A number of hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at approximately $10,013,000. Virtu Financial LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock valued at $6,554,000 after buying an additional 30,151 shares in the last quarter. HRT Financial LP boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% in the fourth quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock valued at $6,366,000 after buying an additional 27,411 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 21,537 shares of the exchange traded fund’s stock worth $3,960,000 after buying an additional 1,914 shares during the last quarter. Finally, Jump Financial LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 173.3% during the fourth quarter. Jump Financial LLC now owns 20,651 shares of the exchange traded fund’s stock worth $3,797,000 after buying an additional 13,095 shares in the last quarter.

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.