Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Stock Price Down 7.9% – Here’s What Happened

Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) shares traded down 7.9% during mid-day trading on Monday . The stock traded as low as $167.58 and last traded at $168.3540. 214,315 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 702,874 shares. The stock had previously closed at $182.76.

Direxion Daily Gold Miners Index Bull 2x ETF Price Performance

The stock’s 50-day moving average price is $151.62 and its 200 day moving average price is $171.43. The firm has a market cap of $1.32 billion, a P/E ratio of 22.41 and a beta of 1.37.

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

Several hedge funds and other institutional investors have recently made changes to their positions in NUGT. Parallel Advisors LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the 1st quarter worth about $31,000. Tower Research Capital LLC TRC increased its position in Direxion Daily Gold Miners Index Bull 2x ETF by 473.9% during the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock worth $65,000 after acquiring an additional 725 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the second quarter valued at approximately $71,000. Integrated Wealth Concepts LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter valued at $99,000. Finally, Federation des caisses Desjardins du Quebec grew its stake in Direxion Daily Gold Miners Index Bull 2x ETF by 27.3% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock worth $189,000 after buying an additional 220 shares in the last quarter.

Direxion Daily Gold Miners Index Bull 2x ETF 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.