Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Down 9.3% – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price were down 9.3% during trading on Tuesday . The company traded as low as $170.69 and last traded at $171.34. Approximately 293,689 shares were traded during trading, a decline of 61% from the average daily volume of 750,937 shares. The stock had previously closed at $188.84.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market capitalization of $989.86 million, a PE ratio of 22.41 and a beta of 1.39. The company has a 50-day moving average price of $217.76 and a 200 day moving average price of $198.91.

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

A number of institutional investors have recently added to or reduced their stakes in NUGT. Tower Research Capital LLC TRC lifted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after purchasing an additional 725 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at approximately $71,000. Caitlin John LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $164,000. Federation des caisses Desjardins du Quebec raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% during 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 purchasing an additional 220 shares in the last quarter. Finally, PFG Investments LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at about $232,000.

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.