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

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) 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.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 0.9 %

The company has a market capitalization of $600.65 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The stock has a 50-day simple moving average of $39.98 and a 200-day simple moving average of $45.02.

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

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. grew its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock worth $589,000 after purchasing an additional 3,409 shares in the last quarter. IMC Chicago LLC lifted its holdings in 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 worth $2,126,000 after buying an additional 19,599 shares during the last quarter. HighTower Advisors LLC grew 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 acquiring an additional 4,605 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at approximately $505,000. Finally, 180 Wealth Advisors LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in 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 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.