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)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $189.73, but opened at $176.77. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $184.5330, with a volume of 212,355 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 4.1%

The company has a market cap of $1.39 billion, a P/E ratio of 22.41 and a beta of 1.25. The business has a fifty day simple moving average of $139.52 and a two-hundred day simple moving average of $175.65.

Hedge Funds Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

A number of institutional investors and hedge funds have recently made changes to their positions in NUGT. Qube Research & Technologies Ltd bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at approximately $990,000. Raymond James Financial Inc. bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth approximately $71,000. Tower Research Capital LLC TRC raised its position in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after acquiring an additional 725 shares during the period. JPMorgan Chase & Co. lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 40.5% during the third quarter. JPMorgan Chase & Co. now owns 2,676 shares of the exchange traded fund’s stock valued at $413,000 after purchasing an additional 771 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at approximately $258,000.

About Direxion Daily Gold Miners Index Bull 2x Shares

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.