Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Gap Down – Here’s What Happened

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $202.50, but opened at $185.00. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $181.39, with a volume of 315,413 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 9.0%

The firm’s fifty day moving average price is $248.83 and its 200 day moving average price is $187.82. The stock has a market cap of $1.02 billion, a PE ratio of 22.41 and a beta of 1.08.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. IMC Chicago LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth about $10,013,000. Client First Investment Management LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter valued at approximately $7,719,000. Virtu Financial LLC increased its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in the 4th quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock worth $6,554,000 after acquiring an additional 30,151 shares during the last quarter. HRT Financial LP raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% during the 4th quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock worth $6,366,000 after acquiring an additional 27,411 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth approximately $990,000.

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.