Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 8.3% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price were down 8.3% on Wednesday . The stock traded as low as $107.93 and last traded at $108.00. 464,597 shares changed hands during trading, a decline of 35% from the average session volume of 712,079 shares. The stock had previously closed at $117.83.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock has a market capitalization of $808.79 million, a price-to-earnings ratio of 22.41 and a beta of 1.25. The firm’s fifty day simple moving average is $151.88 and its 200 day simple moving average is $198.07.

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

Hedge funds have recently made changes to their positions in the business. Virtu Financial LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock worth $6,554,000 after purchasing an additional 30,151 shares in the last quarter. HRT Financial LP grew its position in Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% in the fourth quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock valued at $6,366,000 after purchasing an additional 27,411 shares in the last quarter. SBI Securities Co. Ltd. grew its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 9.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 21,537 shares of the exchange traded fund’s stock valued at $3,960,000 after purchasing an additional 1,914 shares in the last quarter. Jump Financial LLC grew its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 173.3% in the fourth quarter. Jump Financial LLC now owns 20,651 shares of the exchange traded fund’s stock valued at $3,797,000 after purchasing an additional 13,095 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $990,000.

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.