Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Stock Price Down 8.6% – Here’s What Happened

Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) dropped 8.6% during trading on Thursday. The stock traded as low as $129.84 and last traded at $129.9080. 180,909 shares were traded 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 Price Performance

The business’s fifty day moving average price is $168.15 and its 200 day moving average price is $158.24. The stock has a market cap of $811.24 million, a P/E ratio of 22.41 and a beta of 1.33.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the second quarter worth $99,000. Headlands Technologies LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x ETF in the 2nd quarter valued at $1,282,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% during 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 acquiring an additional 1,028 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 4.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock valued at $352,000 after acquiring an additional 132 shares in the last quarter. Finally, Parallel Advisors LLC acquired a new stake in shares of Direxion Daily Gold Miners Index Bull 2x ETF during the 1st quarter valued at $31,000.

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.