Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Down 8.3% – Here’s What Happened

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price were down 8.3% during trading on Wednesday . The stock traded as low as $107.93 and last traded at $108.00. 464,597 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 712,079 shares. The stock had previously closed at $117.83.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 6.6%

The firm has a market capitalization of $808.79 million, a P/E ratio of 22.41 and a beta of 1.25. The company has a 50 day moving average of $151.88 and a 200-day moving average of $198.07.

Hedge Funds Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Several institutional investors and hedge funds have recently modified their holdings of NUGT. 180 Wealth Advisors LLC raised its stake 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 in the last quarter. Parallel Advisors LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth approximately $31,000. Optiver Holding B.V. increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 72.3% during the first quarter. Optiver Holding B.V. now owns 3,052 shares of the exchange traded fund’s stock worth $575,000 after purchasing an additional 1,281 shares during the period. Frazier Financial Advisors LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the first quarter worth approximately $753,000. Finally, Virtu Financial LLC raised its position in shares of 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 valued at $6,554,000 after buying an additional 30,151 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.