Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Down – Time to Sell?

Shares of Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) gapped down prior to trading on Monday . The stock had previously closed at $43.20, but opened at $42.31. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $41.51, with a volume of 475,993 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 4.4 %

The company has a 50-day simple moving average of $48.75 and a two-hundred day simple moving average of $45.29. The stock has a market cap of $605.19 million, a P/E ratio of 19.80 and a beta of 1.57.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in NUGT. Harbour Investments Inc. raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.5% during the second quarter. Harbour Investments Inc. now owns 7,462 shares of the exchange traded fund’s stock valued at $280,000 after acquiring an additional 1,608 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at approximately $195,000. Fore Capital LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at approximately $1,691,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock valued at $589,000 after acquiring an additional 3,409 shares in the last quarter. Finally, IMC Chicago LLC raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the third quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock valued at $2,126,000 after acquiring an additional 19,599 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.