Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 5.9% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) fell 5.9% on Wednesday . The stock traded as low as $205.75 and last traded at $205.75. 444,064 shares traded hands during trading, a decline of 37% from the average daily volume of 704,290 shares. The stock had previously closed at $218.64.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 2.4%

The business has a 50 day simple moving average of $137.42 and a 200-day simple moving average of $176.50. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 22.41 and a beta of 1.25.

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

A number of institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC increased its position in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% during the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock worth $6,554,000 after purchasing an additional 30,151 shares during the last quarter. HRT Financial LP boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% in the 4th quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock valued at $6,366,000 after purchasing an additional 27,411 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at $990,000. Jump Financial LLC grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 173.3% during the 4th quarter. Jump Financial LLC now owns 20,651 shares of the exchange traded fund’s stock valued at $3,797,000 after buying an additional 13,095 shares during the period. Finally, Headlands Technologies LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at $1,282,000.

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.