Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 8% – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price were down 8% on Tuesday . The stock traded as low as $149.85 and last traded at $150.27. Approximately 283,205 shares traded hands during trading, a decline of 61% from the average daily volume of 718,073 shares. The stock had previously closed at $163.42.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 0.6%

The firm has a market cap of $929.86 million, a PE ratio of 22.41 and a beta of 1.18. The firm’s fifty day simple moving average is $190.73 and its two-hundred day simple moving average is $201.97.

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

Several large investors have recently added to or reduced their stakes in the company. IMC Chicago LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at approximately $10,013,000. Virtu Financial LLC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% during the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock valued at $6,554,000 after purchasing an additional 30,151 shares in the last quarter. HRT Financial LP raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% during the fourth quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock valued at $6,366,000 after buying an additional 27,411 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 21,537 shares of the exchange traded fund’s stock valued at $3,960,000 after buying an additional 1,914 shares during the last quarter. Finally, Jump Financial LLC raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 173.3% during the fourth quarter. Jump Financial LLC now owns 20,651 shares of the exchange traded fund’s stock valued at $3,797,000 after buying an additional 13,095 shares during 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.