Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 8.3% – Here’s What Happened

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price were down 8.3% during trading on Monday . The stock traded as low as $156.40 and last traded at $156.50. Approximately 202,440 shares traded hands during trading, a decline of 71% from the average daily volume of 697,221 shares. The stock had previously closed at $170.65.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The firm’s 50-day simple moving average is $183.36 and its 200 day simple moving average is $203.43. The stock has a market capitalization of $917.46 million, a P/E ratio of 22.41 and a beta of 1.18.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. NewEdge Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 3.2% during the 4th quarter. NewEdge Advisors LLC now owns 2,224 shares of the exchange traded fund’s stock worth $409,000 after buying an additional 69 shares in the last quarter. Parallel Advisors LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 1st quarter worth about $31,000. HighTower Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 12.2% during the 4th quarter. HighTower Advisors LLC now owns 1,721 shares of the exchange traded fund’s stock worth $316,000 after buying an additional 187 shares in the last quarter. Federation des caisses Desjardins du Quebec lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 27.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,025 shares of the exchange traded fund’s stock worth $189,000 after buying an additional 220 shares in the last quarter. Finally, Harbour Investments Inc. increased its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 11.1% during the 4th quarter. Harbour Investments Inc. now owns 4,129 shares of the exchange traded fund’s stock worth $759,000 after purchasing an additional 413 shares during the last quarter.

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.