Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Shares Break Below 200-Day Moving Average – Here’s What Happened

Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) shares passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $159.02 and traded as low as $137.56. Direxion Daily Gold Miners Index Bull 2x ETF shares last traded at $142.16, with a volume of 521,542 shares traded.

Direxion Daily Gold Miners Index Bull 2x ETF Trading Down 3.8%

The stock has a 50-day moving average of $168.95 and a 200-day moving average of $158.50. The firm has a market cap of $811.24 million, a price-to-earnings ratio of 22.41 and a beta of 1.33.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter worth approximately $99,000. Headlands Technologies LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter valued at $1,282,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock worth $195,000 after buying an additional 1,028 shares during the period. 180 Wealth Advisors LLC boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 4.6% in the second quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock worth $352,000 after buying an additional 132 shares during the period. Finally, Parallel Advisors LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the first quarter valued at approximately $31,000.

Direxion Daily Gold Miners Index Bull 2x ETF 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.