Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Down 5.9% – What’s Next?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) traded down 5.9% on Wednesday . The stock traded as low as $205.75 and last traded at $205.75. 444,064 shares changed hands during trading, a decline of 37% from the average session volume of 704,290 shares. The stock had previously closed at $218.64.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 5.6%

The firm’s 50 day simple moving average is $134.88 and its two-hundred day simple moving average is $176.59. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 22.41 and a beta of 1.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Revere Asset Management Inc bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter valued at $1,302,000. Virtu Financial LLC lifted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock valued at $6,554,000 after buying an additional 30,151 shares in the last quarter. Millennium Capital Advisors LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at about $608,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 160.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock valued at $195,000 after buying an additional 1,028 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 4.6% during the second quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock worth $352,000 after acquiring an additional 132 shares in the last quarter.

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.