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 prior to trading on Monday . The stock had previously closed at $44.71, but opened at $41.66. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $41.85, with a volume of 234,046 shares trading hands.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Up 1.0 %

The stock has a market capitalization of $622.33 million, a price-to-earnings ratio of 19.80 and a beta of 1.57. The stock’s 50 day moving average is $49.30 and its two-hundred day moving average is $45.27.

Institutional Trading of 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 the business. Harbour Investments Inc. raised its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 27.5% during the 2nd quarter. Harbour Investments Inc. now owns 7,462 shares of the exchange traded fund’s stock worth $280,000 after purchasing an additional 1,608 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in 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 last quarter. HighTower Advisors LLC raised its stake 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 valued at $564,000 after buying an additional 4,605 shares during the period. Headlands Technologies LLC acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $195,000. Finally, Virtu Financial LLC acquired a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at $505,000.

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.