Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Shares Gap Down – Should You Sell?

Shares of Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) gapped down before the market opened on Wednesday. The stock had previously closed at $148.65, but opened at $138.93. Direxion Daily Gold Miners Index Bull 2x ETF shares last traded at $139.2590, with a volume of 201,322 shares traded.

Direxion Daily Gold Miners Index Bull 2x ETF Trading Down 5.8%

The stock has a 50-day moving average price of $168.25 and a 200 day moving average price of $161.02. The stock has a market capitalization of $959.65 million, a price-to-earnings ratio of 22.41 and a beta of 1.33.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NUGT. Integrated Wealth Concepts LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the 2nd quarter worth $99,000. Headlands Technologies LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter valued at about $1,282,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock valued at $195,000 after buying an additional 1,028 shares during the period. 180 Wealth Advisors LLC lifted its position in 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 valued at $352,000 after buying an additional 132 shares during the last quarter. Finally, Parallel Advisors LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x ETF in the first quarter valued at about $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.