Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Cross Below 200 Day Moving Average – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $45.04 and traded as low as $41.81. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $42.88, with a volume of 864,159 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Up 1.7 %

The company has a market cap of $628.19 million, a PE ratio of 19.80 and a beta of 1.57. The stock has a 50-day moving average of $40.25 and a 200-day moving average of $45.04.

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

Several institutional investors and hedge funds have recently modified their holdings of NUGT. 180 Wealth Advisors LLC raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the 4th quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after buying an additional 590 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock worth $589,000 after purchasing an additional 3,409 shares during the last quarter. HighTower Advisors LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after buying an additional 4,605 shares during the period. Virtu Financial LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at about $505,000. Finally, PFG Investments LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at about $364,000.

About Direxion Daily Gold Miners Index Bull 2x Shares

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.