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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $233.96, but opened at $214.17. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $209.5710, with a volume of 270,184 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. The business’s 50 day simple moving average is $209.62 and its 200 day simple moving average is $153.99.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

A number of hedge funds have recently made changes to their positions in the company. IMC Chicago LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter worth $10,013,000. Client First Investment Management LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at $7,719,000. SBI Securities Co. Ltd. boosted its holdings in 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 acquiring an additional 1,914 shares during the period. Simplex Trading LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $1,004,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter valued at $990,000.

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.