Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 5.8% – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares fell 5.8% on Friday . The stock traded as low as $51.16 and last traded at $51.00. 1,834,579 shares were traded during trading, an increase of 20% from the average session volume of 1,531,155 shares. The stock had previously closed at $54.12.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company’s 50-day moving average price is $42.02 and its two-hundred day moving average price is $45.42. The company has a market capitalization of $739.68 million, a price-to-earnings ratio of 19.80 and a beta of 1.57.

Institutional Investors Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

Large investors have recently bought and sold shares of the stock. HighTower Advisors LLC grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after purchasing an additional 4,605 shares during the period. IMC Chicago LLC grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% in the fourth quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock worth $4,256,000 after purchasing an additional 78,230 shares during the period. 180 Wealth Advisors LLC grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock worth $230,000 after purchasing an additional 590 shares during the period. Virtu Financial LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth $505,000. Finally, PFG Investments LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth $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.