Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 7.4% – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares were down 7.4% on Tuesday . The company traded as low as $200.55 and last traded at $202.00. Approximately 243,706 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 769,040 shares. The stock had previously closed at $218.25.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 10.2%

The stock’s fifty day moving average price is $223.64 and its two-hundred day moving average price is $197.74. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.41 and a beta of 1.39.

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 3.2% during the 4th quarter. NewEdge Advisors LLC now owns 2,224 shares of the exchange traded fund’s stock worth $409,000 after acquiring an additional 69 shares in the last quarter. HighTower Advisors LLC raised its stake 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 in the last quarter. Federation des caisses Desjardins du Quebec raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock worth $189,000 after acquiring an additional 220 shares in the last quarter. Harbour Investments Inc. raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 11.1% during the 4th quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock worth $759,000 after acquiring an additional 413 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 32.9% during the 4th quarter. CreativeOne Wealth LLC now owns 2,219 shares of the exchange traded fund’s stock worth $408,000 after acquiring an additional 549 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.