Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Shares Down 10.2% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT)’s share price dropped 10.2% during mid-day trading on Friday. The stock traded as low as $111.89 and last traded at $111.6530. 272,834 shares traded hands during trading, a decline of 61% from the average daily volume of 694,203 shares. The stock had previously closed at $124.38.

Direxion Daily Gold Miners Index Bull 2x ETF Stock Down 10.7%

The business’s fifty day moving average is $164.30 and its two-hundred day moving average is $179.43. The stock has a market cap of $755.34 million, a price-to-earnings ratio of 22.41 and a beta of 1.33.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter worth $1,282,000. Frazier Financial Advisors LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the first quarter valued at approximately $753,000. Optiver Holding B.V. raised its holdings in Direxion Daily Gold Miners Index Bull 2x ETF by 72.3% in the first quarter. Optiver Holding B.V. now owns 3,052 shares of the exchange traded fund’s stock valued at $575,000 after acquiring an additional 1,281 shares in the last quarter. 180 Wealth Advisors LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 4.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock worth $352,000 after buying an additional 132 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock valued at $195,000 after acquiring an additional 1,028 shares during the period.

About Direxion Daily Gold Miners Index Bull 2x ETF

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.