Direxion Daily Junior Gold Miners Index Bull 2X ETF (NYSEARCA:JNUG) Shares Gap Down – Should You Sell?

Shares of Direxion Daily Junior Gold Miners Index Bull 2X ETF (NYSEARCA:JNUG) gapped down prior to trading on Thursday . The stock had previously closed at $195.79, but opened at $182.97. Direxion Daily Junior Gold Miners Index Bull 2X ETF shares last traded at $182.6270, with a volume of 55,248 shares changing hands.

Direxion Daily Junior Gold Miners Index Bull 2X ETF Stock Performance

The firm has a market capitalization of $587.83 million, a price-to-earnings ratio of 27.33 and a beta of 1.76. The firm’s 50-day moving average price is $153.07 and its two-hundred day moving average price is $183.44.

Hedge Funds Weigh In On Direxion Daily Junior Gold Miners Index Bull 2X ETF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd grew its position in Direxion Daily Junior Gold Miners Index Bull 2X ETF by 693.5% in the second quarter. Qube Research & Technologies Ltd now owns 7,253 shares of the exchange traded fund’s stock valued at $576,000 after acquiring an additional 6,339 shares during the period. Headlands Technologies LLC lifted its holdings in shares of Direxion Daily Junior Gold Miners Index Bull 2X ETF by 8,942.9% during the second quarter. Headlands Technologies LLC now owns 2,532 shares of the exchange traded fund’s stock valued at $201,000 after acquiring an additional 2,504 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Direxion Daily Junior Gold Miners Index Bull 2X ETF in the 3rd quarter valued at $973,000. Jump Financial LLC acquired a new stake in shares of Direxion Daily Junior Gold Miners Index Bull 2X ETF in the 3rd quarter valued at $5,097,000. Finally, Client First Investment Management LLC grew its holdings in shares of Direxion Daily Junior Gold Miners Index Bull 2X ETF by 15.4% in the 4th quarter. Client First Investment Management LLC now owns 26,392 shares of the exchange traded fund’s stock worth $5,451,000 after purchasing an additional 3,519 shares during the last quarter.

About Direxion Daily Junior Gold Miners Index Bull 2X ETF

The Direxion Daily Junior Gold Miners Index Bull 2X Shares (JNUG) is an exchange-traded fund that is based on the MVIS Global Junior Gold Miners index. The fund provides daily 2x exposure to an index of junior gold and silver mining companies from developed as well as emerging markets. JNUG was launched on Oct 3, 2013 and is managed by Direxion.