Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 4.4% – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) dropped 4.4% during mid-day trading on Thursday . The stock traded as low as $155.72 and last traded at $157.34. 197,134 shares were traded during trading, a decline of 72% from the average daily volume of 696,779 shares. The stock had previously closed at $164.62.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The firm has a market capitalization of $1.18 billion, a P/E ratio of 22.41 and a beta of 1.25. The business has a fifty day moving average of $126.30 and a 200-day moving average of $181.46.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at about $990,000. Raymond James Financial Inc. acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $71,000. Tower Research Capital LLC TRC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after buying an additional 725 shares during the period. JPMorgan Chase & Co. raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,676 shares of the exchange traded fund’s stock worth $413,000 after buying an additional 771 shares in the last quarter. Finally, CreativeOne Wealth LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth about $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.