Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 7.4% – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price fell 7.4% on Tuesday . The company traded as low as $200.55 and last traded at $202.00. 243,706 shares were traded during trading, a decline of 68% from the average session volume of 769,040 shares. The stock had previously closed at $218.25.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock has a market cap of $1.10 billion, a PE ratio of 22.41 and a beta of 1.39. The stock’s 50-day moving average is $223.64 and its two-hundred day moving average is $197.74.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NUGT. IMC Chicago LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at approximately $10,013,000. Client First Investment Management LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at approximately $7,719,000. Virtu Financial LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in the 4th 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 during the period. HRT Financial LP boosted its position in 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 buying an additional 27,411 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd 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.