Direxion Daily Junior Gold Miners Index Bull 2X ETF (NYSEARCA:JNUG) Trading Down 9% – Here’s Why

Direxion Daily Junior Gold Miners Index Bull 2X ETF (NYSEARCA:JNUG) shares dropped 9% on Monday . The company traded as low as $166.10 and last traded at $167.3460. 137,782 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 298,914 shares. The stock had previously closed at $183.83.

Direxion Daily Junior Gold Miners Index Bull 2X ETF Stock Performance

The firm has a fifty day simple moving average of $155.07 and a 200-day simple moving average of $181.69. The firm has a market cap of $547.96 million, a price-to-earnings ratio of 27.33 and a beta of 1.76.

Institutional Trading of Direxion Daily Junior Gold Miners Index Bull 2X ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jump Financial LLC acquired a new position in shares of Direxion Daily Junior Gold Miners Index Bull 2X ETF in the third quarter valued at approximately $5,097,000. IMC Chicago LLC lifted its holdings in Direxion Daily Junior Gold Miners Index Bull 2X ETF by 89.2% during the 1st quarter. IMC Chicago LLC now owns 20,530 shares of the exchange traded fund’s stock worth $4,089,000 after purchasing an additional 9,681 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in Direxion Daily Junior Gold Miners Index Bull 2X ETF by 693.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 7,253 shares of the exchange traded fund’s stock valued at $576,000 after purchasing an additional 6,339 shares during the period. JPMorgan Chase & Co. bought a new stake in Direxion Daily Junior Gold Miners Index Bull 2X ETF in the 3rd quarter valued at $973,000. Finally, Virtu Financial LLC grew its holdings in Direxion Daily Junior Gold Miners Index Bull 2X ETF by 18.1% in the 4th quarter. Virtu Financial LLC now owns 38,572 shares of the exchange traded fund’s stock valued at $7,967,000 after buying an additional 5,915 shares in the last quarter.

About Direxion Daily Junior Gold Miners Index Bull 2X ETF

The Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG) is an exchange-traded fund that is based on the MVIS Global Junior Gold Miners index. The fund provides daily 2x exposure to an index of junior gold and silver mining companies from developed as well as emerging markets. JNUG was launched on Oct 3, 2013 and is managed by Direxion.