Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Cross Below 200 Day Moving Average – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $200.75 and traded as low as $194.01. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $200.95, with a volume of 311,201 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 14.2%

The firm has a market capitalization of $960.86 million, a price-to-earnings ratio of 22.41 and a beta of 1.18. The stock has a 50 day moving average of $195.62 and a 200 day moving average of $200.88.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of NUGT. Qube Research & Technologies Ltd acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at approximately $990,000. Raymond James Financial Inc. acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter valued at approximately $71,000. Tower Research Capital LLC TRC boosted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 473.9% in the second quarter. Tower Research Capital LLC TRC now owns 878 shares of the exchange traded fund’s stock valued at $65,000 after acquiring an additional 725 shares during the period. PFG Investments LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $232,000. Finally, IMC Chicago LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $10,013,000.

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.