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 share price gapped down prior to trading on Tuesday . The stock had previously closed at $284.70, but opened at $267.95. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $280.2870, with a volume of 182,204 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The company has a market cap of $1.57 billion, a PE ratio of 22.41 and a beta of 1.08. The business’s 50-day moving average is $229.62 and its 200 day moving average is $169.93.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after acquiring an additional 725 shares during the period. Raymond James Financial Inc. bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at approximately $71,000. Caitlin John LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at approximately $164,000. Federation des caisses Desjardins du Quebec grew its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock worth $189,000 after purchasing an additional 220 shares during the last quarter. Finally, PFG Investments LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth approximately $232,000.

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.