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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped down prior to trading on Wednesday . The stock had previously closed at $202.50, but opened at $185.00. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $181.39, with a volume of 315,413 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 9.0%

The company’s 50 day moving average price is $248.83 and its two-hundred day moving average price is $187.82. The stock has a market cap of $1.02 billion, a P/E ratio of 22.41 and a beta of 1.08.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NUGT. Tower Research Capital LLC TRC raised its position in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after purchasing an additional 725 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at $71,000. Caitlin John LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at $164,000. Federation des caisses Desjardins du Quebec raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock valued at $189,000 after acquiring an additional 220 shares in the last quarter. Finally, PFG Investments LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at about $232,000.

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.