Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Share Price Pass Below Two Hundred Day Moving Average – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.05 and traded as low as $39.69. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $40.80, with a volume of 2,109,656 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 1.7 %

The firm’s 50-day moving average is $40.26 and its 200 day moving average is $45.02. The firm has a market capitalization of $597.72 million, a price-to-earnings ratio of 19.80 and a beta of 1.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. HighTower Advisors LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after purchasing an additional 4,605 shares during the period. IMC Chicago LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the 3rd quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock valued at $2,126,000 after acquiring an additional 19,599 shares during the period. Virtu Financial LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at $505,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock valued at $589,000 after acquiring an additional 3,409 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after acquiring an additional 590 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.