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)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $210.50, but opened at $204.05. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $207.25, with a volume of 213,668 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a 50-day moving average of $136.04 and a 200 day moving average of $176.60. The company has a market capitalization of $1.57 billion, a PE ratio of 22.41 and a beta of 1.25.

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

A number of institutional investors have recently made changes to their positions in the stock. Revere Asset Management Inc purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at approximately $1,302,000. Virtu Financial LLC boosted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in 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 last quarter. Millennium Capital Advisors LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth approximately $608,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Direxion Daily Gold Miners Index Bull 2x Shares by 160.1% in 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 purchasing an additional 1,028 shares during the period. Finally, 180 Wealth Advisors LLC grew its position in Direxion Daily Gold Miners Index Bull 2x Shares by 4.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock worth $352,000 after purchasing an additional 132 shares during the period.

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.