Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT) Stock Falls 8.6% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x ETF (NYSEARCA:NUGT)’s stock price fell 8.6% during mid-day trading on Thursday. The company traded as low as $129.84 and last traded at $129.9080. 180,909 shares were traded during trading, a decline of 74% from the average session volume of 694,605 shares. The stock had previously closed at $142.16.

Direxion Daily Gold Miners Index Bull 2x ETF Trading Down 11.5%

The firm’s fifty day moving average is $169.53 and its 200-day moving average is $159.02. The stock has a market capitalization of $861.94 million, a PE ratio of 22.41 and a beta of 1.33.

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

A number of institutional investors and hedge funds have recently made changes to their positions in NUGT. 180 Wealth Advisors LLC boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 4.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 3,011 shares of the exchange traded fund’s stock worth $352,000 after purchasing an additional 132 shares during the period. Parallel Advisors LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x ETF in the first quarter valued at approximately $31,000. Integrated Wealth Concepts LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x ETF during the second quarter worth $99,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Direxion Daily Gold Miners Index Bull 2x ETF by 160.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,670 shares of the exchange traded fund’s stock worth $195,000 after purchasing an additional 1,028 shares in the last quarter. Finally, Optiver Holding B.V. boosted its position in shares of Direxion Daily Gold Miners Index Bull 2x ETF by 72.3% during the first quarter. Optiver Holding B.V. now owns 3,052 shares of the exchange traded fund’s stock worth $575,000 after buying an additional 1,281 shares during the period.

Direxion Daily Gold Miners Index Bull 2x ETF 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.