Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 8% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) dropped 8% on Tuesday . The stock traded as low as $149.85 and last traded at $150.27. Approximately 283,205 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 718,073 shares. The stock had previously closed at $163.42.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 5.2%

The stock has a market capitalization of $906.17 million, a P/E ratio of 22.41 and a beta of 1.18. The business has a 50-day moving average price of $194.10 and a two-hundred day moving average price of $201.65.

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

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth approximately $31,000. Tower Research Capital LLC TRC increased its stake in 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 acquiring an additional 725 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at approximately $71,000. Caitlin John LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth $164,000. Finally, Federation des caisses Desjardins du Quebec lifted 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 worth $189,000 after purchasing an additional 220 shares during the last quarter.

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.