Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Stock Price Down 8.6% – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT)’s share price fell 8.6% during trading on Thursday. The company traded as low as $129.84 and last traded at $129.9080. 180,909 shares traded hands during trading, a decline of 74% from the average daily volume of 694,605 shares. The stock had previously closed at $142.16.

Direxion Daily Gold Miners Index Bull 2x ETF Stock Performance

The company has a market capitalization of $861.94 million, a price-to-earnings ratio of 22.41 and a beta of 1.33. The firm has a 50-day simple moving average of $169.53 and a two-hundred day simple moving average of $159.02.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x ETF during the 2nd quarter worth approximately $1,282,000. Frazier Financial Advisors LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x ETF in the 1st quarter valued at approximately $753,000. Optiver Holding B.V. boosted its position in Direxion Daily Gold Miners Index Bull 2x ETF by 72.3% in the 1st quarter. Optiver Holding B.V. now owns 3,052 shares of the exchange traded fund’s stock valued at $575,000 after buying an additional 1,281 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its position in Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock valued at $195,000 after buying an additional 1,028 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the second quarter worth $99,000.

Direxion Daily Gold Miners Index Bull 2x ETF 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.