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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $167.52, but opened at $157.92. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $160.22, with a volume of 139,163 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock has a market cap of $935.53 million, a P/E ratio of 22.41 and a beta of 1.18. The firm’s fifty day moving average price is $185.26 and its two-hundred day moving average price is $202.86.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

A number of institutional investors and hedge funds have recently bought and sold shares of NUGT. Qube Research & Technologies Ltd purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at approximately $990,000. Raymond James Financial Inc. purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at approximately $71,000. Tower Research Capital LLC TRC raised its stake in 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 valued at $65,000 after purchasing an additional 725 shares in the last quarter. PFG Investments LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $232,000. Finally, IMC Chicago LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $10,013,000.

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.