Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 7.2% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) were down 7.2% during mid-day trading on Wednesday . The company traded as low as $117.00 and last traded at $117.47. Approximately 408,416 shares were traded during trading, a decline of 42% from the average daily volume of 701,482 shares. The stock had previously closed at $126.63.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 7.4%

The company has a market cap of $685.97 million, a price-to-earnings ratio of 22.41 and a beta of 1.16. The firm has a 50-day moving average price of $181.88 and a 200 day moving average price of $203.33.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC increased its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 3.2% during the 4th quarter. NewEdge Advisors LLC now owns 2,224 shares of the exchange traded fund’s stock worth $409,000 after purchasing an additional 69 shares during the last quarter. Parallel Advisors LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth about $31,000. HighTower Advisors LLC boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 12.2% during the 4th quarter. HighTower Advisors LLC now owns 1,721 shares of the exchange traded fund’s stock worth $316,000 after acquiring an additional 187 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted 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 in the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 11.1% during the 4th quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock worth $759,000 after acquiring an additional 413 shares in the last quarter.

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.