Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 11.2% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) were down 11.2% during trading on Thursday . The company traded as low as $271.20 and last traded at $274.7140. Approximately 773,523 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 743,231 shares. The stock had previously closed at $309.51.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 10.0%

The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 22.41 and a beta of 1.08. The company has a 50 day simple moving average of $200.92 and a 200 day simple moving average of $148.29.

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

A number of institutional investors have recently modified their holdings of NUGT. Tower Research Capital LLC TRC boosted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares 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 purchasing an additional 725 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at approximately $71,000. Caitlin John LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth $164,000. PFG Investments LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at about $232,000. Finally, CreativeOne Wealth LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth approximately $258,000.

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.