Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Stock Falls 10.2% – Here’s What Happened

Shares of Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) traded down 10.2% on Friday. The stock traded as low as $111.89 and last traded at $111.6530. 272,834 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 694,203 shares. The stock had previously closed at $124.38.

Direxion Daily Gold Miners Index Bull 2x ETF Trading Down 10.7%

The stock’s fifty day moving average is $164.30 and its 200 day moving average is $179.43. The company has a market capitalization of $755.34 million, a P/E ratio of 22.41 and a beta of 1.33.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the second quarter worth about $1,282,000. Integrated Wealth Concepts LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x ETF in the second quarter valued at approximately $99,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock worth $195,000 after purchasing an additional 1,028 shares during the last quarter. 180 Wealth Advisors LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x ETF by 4.6% in the second quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock valued at $352,000 after buying an additional 132 shares during the last quarter. Finally, Parallel Advisors LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x ETF during the first quarter valued at approximately $31,000.

About Direxion Daily Gold Miners Index Bull 2x ETF

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.