Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 7.7% – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price fell 7.7% during trading on Thursday . The stock traded as low as $237.79 and last traded at $239.15. 461,665 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 808,474 shares. The stock had previously closed at $258.99.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. The business has a 50-day moving average of $242.99 and a 200-day moving average of $179.04.

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

Several institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in shares of 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 valued at $65,000 after purchasing an additional 725 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth $71,000. Caitlin John LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth $164,000. Federation des caisses Desjardins du Quebec raised its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after acquiring an additional 220 shares in the last quarter. Finally, PFG Investments LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at $232,000.

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.