Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Down 7.2% – Here’s What Happened

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) were down 7.2% on Wednesday . The company traded as low as $117.00 and last traded at $117.47. Approximately 408,416 shares changed hands during trading, a decline of 42% from the average daily volume of 701,482 shares. The stock had previously closed at $126.63.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm’s fifty day moving average price is $179.63 and its 200-day moving average price is $203.11. The company has a market capitalization of $740.90 million, a price-to-earnings ratio of 22.41 and a beta of 1.16.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NUGT. Virtu Financial LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% during the fourth quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock worth $6,554,000 after buying an additional 30,151 shares in the last quarter. HRT Financial LP increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 379.8% during the fourth quarter. HRT Financial LP now owns 34,629 shares of the exchange traded fund’s stock worth $6,366,000 after buying an additional 27,411 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter worth $990,000. Jump Financial LLC increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 173.3% during the fourth quarter. Jump Financial LLC now owns 20,651 shares of the exchange traded fund’s stock worth $3,797,000 after buying an additional 13,095 shares in the last quarter. Finally, UBS Group AG increased its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 873.8% during the third quarter. UBS Group AG now owns 9,738 shares of the exchange traded fund’s stock worth $1,504,000 after buying an additional 8,738 shares in the last quarter.

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.