Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 7.7% – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares were down 7.7% during trading on Thursday . The stock traded as low as $237.79 and last traded at $239.15. Approximately 461,665 shares changed hands during trading, a decline of 43% from the average daily volume of 808,474 shares. The stock had previously closed at $258.99.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 10.3%

The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. The company has a fifty day moving average price of $242.99 and a two-hundred day moving average price of $179.04.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 3.2% during the fourth quarter. NewEdge Advisors LLC now owns 2,224 shares of the exchange traded fund’s stock worth $409,000 after buying an additional 69 shares during the period. HighTower Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 12.2% during the 4th quarter. HighTower Advisors LLC now owns 1,721 shares of the exchange traded fund’s stock worth $316,000 after acquiring an additional 187 shares during the period. 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 valued at $189,000 after purchasing an additional 220 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 11.1% in the fourth quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock valued at $759,000 after purchasing an additional 413 shares during the period. Finally, CreativeOne Wealth LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 32.9% in the fourth quarter. CreativeOne Wealth LLC now owns 2,219 shares of the exchange traded fund’s stock valued at $408,000 after purchasing an additional 549 shares during the period.

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.