Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 8.3% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price dropped 8.3% during mid-day trading on Monday . The company traded as low as $156.40 and last traded at $156.50. Approximately 202,440 shares traded hands during trading, a decline of 71% from the average daily volume of 697,221 shares. The stock had previously closed at $170.65.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock has a 50 day moving average price of $183.44 and a 200-day moving average price of $203.51. The stock has a market capitalization of $965.25 million, a P/E ratio of 22.41 and a beta of 1.18.

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

Several large investors have recently modified their holdings of NUGT. Parallel Advisors LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter worth about $31,000. Tower Research Capital LLC TRC grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after purchasing an additional 725 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth about $71,000. Caitlin John LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth about $164,000. Finally, Federation des caisses Desjardins du Quebec grew its stake 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.

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.