Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Down 5.9% – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price traded down 5.9% during mid-day trading 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 Down 5.6%

The stock has a market capitalization of $1.58 billion, a PE ratio of 22.41 and a beta of 1.25. The stock’s fifty day simple moving average is $134.88 and its 200-day simple moving average is $176.59.

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. Parallel Advisors LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter valued at $31,000. Tower Research Capital LLC TRC raised 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 buying an additional 725 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at $71,000. Federation des caisses Desjardins du Quebec grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock worth $189,000 after acquiring an additional 220 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 160.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock worth $195,000 after acquiring an additional 1,028 shares during the period.

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.