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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares gapped down prior to trading on Wednesday . The stock had previously closed at $124.62, but opened at $113.65. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $119.16, with a volume of 334,131 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 6.8%

The company has a market capitalization of $679.13 million, a P/E ratio of 22.41 and a beta of 1.16. The business has a fifty day moving average price of $169.38 and a 200 day moving average price of $201.84.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

Institutional investors and hedge funds have recently bought and sold shares of the business. Virtu Financial LLC boosted 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 period. HRT Financial LP raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% in the fourth 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 period. Qube Research & Technologies Ltd bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at about $990,000. Jump Financial LLC lifted 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 worth $3,797,000 after buying an additional 13,095 shares during the last quarter. Finally, UBS Group AG lifted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 873.8% during the 3rd quarter. UBS Group AG now owns 9,738 shares of the exchange traded fund’s stock worth $1,504,000 after buying an additional 8,738 shares during the last quarter.

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.