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 stock price gapped down before the market opened on Wednesday . The stock had previously closed at $124.62, but opened at $113.65. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $119.16, with a volume of 334,131 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market capitalization of $679.13 million, a price-to-earnings ratio of 22.41 and a beta of 1.16. The business has a 50 day moving average of $169.38 and a 200 day moving average of $201.84.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% during the 4th quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock worth $6,554,000 after purchasing an additional 30,151 shares during the last quarter. HRT Financial LP boosted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% in the 4th quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock valued at $6,366,000 after purchasing an additional 27,411 shares during the last quarter. SBI Securities Co. Ltd. grew its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.8% during the 4th quarter. SBI Securities Co. Ltd. now owns 21,537 shares of the exchange traded fund’s stock worth $3,960,000 after buying an additional 1,914 shares during the period. Jump Financial LLC raised its stake 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 worth $3,797,000 after buying an additional 13,095 shares during the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at approximately $990,000.

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.