Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 4.8% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price fell 4.8% during trading on Friday . The stock traded as low as $186.91 and last traded at $190.8620. Approximately 354,373 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 705,670 shares. The stock had previously closed at $200.56.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company’s 50-day moving average price is $143.60 and its two-hundred day moving average price is $174.34. The company has a market capitalization of $1.48 billion, a P/E ratio of 22.41 and a beta of 1.37.

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

Several institutional investors and hedge funds have recently made changes to their positions in NUGT. Headlands Technologies LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth $1,282,000. Revere Asset Management Inc bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter worth about $1,302,000. Virtu Financial LLC raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in the 4th 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. Millennium Capital Advisors LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at about $608,000. Finally, Harbour Investments Inc. grew its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 11.1% during the 4th quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock worth $759,000 after purchasing an additional 413 shares in the last quarter.

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.