Direxion Daily Junior Gold Miners Index Bull 2X Shares (NYSEARCA:JNUG) Stock Price Pass Below Fifty Day Moving Average – Here’s Why

Direxion Daily Junior Gold Miners Index Bull 2X Shares (NYSEARCA:JNUG)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $158.10 and traded as low as $117.00. Direxion Daily Junior Gold Miners Index Bull 2X Shares shares last traded at $121.60, with a volume of 290,430 shares.

Direxion Daily Junior Gold Miners Index Bull 2X Shares Stock Up 7.1%

The stock has a market cap of $357.50 million, a price-to-earnings ratio of 27.33 and a beta of 1.62. The company’s 50-day simple moving average is $158.10 and its 200-day simple moving average is $214.83.

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

A number of hedge funds have recently modified their holdings of JNUG. TD Waterhouse Canada Inc. acquired a new stake in shares of Direxion Daily Junior Gold Miners Index Bull 2X Shares during the fourth quarter worth $28,000. Caitlin John LLC purchased a new position in Direxion Daily Junior Gold Miners Index Bull 2X Shares in the 4th quarter worth about $33,000. ORG Partners LLC increased its stake in Direxion Daily Junior Gold Miners Index Bull 2X Shares by 26.8% in the 4th quarter. ORG Partners LLC now owns 478 shares of the exchange traded fund’s stock worth $99,000 after purchasing an additional 101 shares in the last quarter. Rachor Investment Advisory Services LLC acquired a new stake in Direxion Daily Junior Gold Miners Index Bull 2X Shares during the 4th quarter worth about $137,000. Finally, Headlands Technologies LLC raised its holdings in Direxion Daily Junior Gold Miners Index Bull 2X Shares by 8,942.9% during the 2nd quarter. Headlands Technologies LLC now owns 2,532 shares of the exchange traded fund’s stock worth $201,000 after buying an additional 2,504 shares during the period.

Direxion Daily Junior Gold Miners Index Bull 2X Shares Company Profile

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.