Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Trading Down 7.9% – What’s Next?

Shares of Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) dropped 7.9% during mid-day trading on Monday . The company traded as low as $167.58 and last traded at $168.3540. 214,315 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 702,874 shares. The stock had previously closed at $182.76.

Direxion Daily Gold Miners Index Bull 2x ETF Stock Performance

The company has a 50 day simple moving average of $153.59 and a two-hundred day simple moving average of $169.79. The firm has a market cap of $1.03 billion, a PE ratio of 22.41 and a beta of 1.37.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x ETF

A number of large investors have recently bought and sold shares of the company. Parallel Advisors LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x ETF during the 1st quarter worth approximately $31,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter valued at $99,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock worth $195,000 after acquiring an additional 1,028 shares during the period. 180 Wealth Advisors LLC raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 4.6% during the second quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock worth $352,000 after purchasing an additional 132 shares during the last quarter. Finally, Optiver Holding B.V. raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 72.3% during the first quarter. Optiver Holding B.V. now owns 3,052 shares of the exchange traded fund’s stock worth $575,000 after purchasing an additional 1,281 shares during the last quarter.

About Direxion Daily Gold Miners Index Bull 2x ETF

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.