Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Share Price Pass Below 200 Day Moving Average – What’s Next?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $199.67 and traded as low as $115.77. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $116.02, with a volume of 731,188 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The company’s fifty day moving average is $156.05 and its 200-day moving average is $199.27. The company has a market cap of $919.87 million, a PE ratio of 22.41 and a beta of 1.25.

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

Institutional investors and hedge funds have recently modified their holdings of the company. FNY Investment Advisers LLC increased its position in Direxion Daily Gold Miners Index Bull 2x Shares by 60.0% during the third quarter. FNY Investment Advisers LLC now owns 12,000 shares of the exchange traded fund’s stock valued at $1,853,000 after acquiring an additional 4,500 shares during the last quarter. Revere Asset Management Inc purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the fourth quarter worth about $1,302,000. Millennium Capital Advisors LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter valued at about $608,000. Virtu Financial LLC grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% during the 4th quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock valued at $6,554,000 after purchasing an additional 30,151 shares during the period. Finally, Parallel Advisors LLC purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter valued at about $31,000.

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.