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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares gapped down before the market opened on Wednesday . The stock had previously closed at $49.79, but opened at $44.97. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $45.48, with a volume of 664,282 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The firm has a market cap of $677.12 million, a P/E ratio of 19.80 and a beta of 1.57. The firm’s fifty day simple moving average is $50.16 and its 200 day simple moving average is $44.86.

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

Several institutional investors have recently bought and sold shares of NUGT. IMC Chicago LLC raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% in the 3rd quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock valued at $2,126,000 after purchasing an additional 19,599 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake 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 worth $589,000 after buying an additional 3,409 shares during the period. Fore Capital LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at about $1,691,000. Headlands Technologies LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth about $195,000. Finally, Harbour Investments Inc. increased its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 27.5% in the 2nd quarter. Harbour Investments Inc. now owns 7,462 shares of the exchange traded fund’s stock worth $280,000 after buying an additional 1,608 shares during the period.

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.