Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Stock Price Down 5% – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price dropped 5% during trading on Friday . The stock traded as low as $40.73 and last traded at $40.81. Approximately 743,571 shares changed hands during mid-day trading, a decline of 66% from the average daily volume of 2,213,729 shares. The stock had previously closed at $42.95.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 5.2 %

The company’s fifty day simple moving average is $47.22 and its 200 day simple moving average is $45.24. The stock has a market capitalization of $596.55 million, a P/E ratio of 19.80 and a beta of 1.57.

Institutional Trading of Direxion Daily Gold Miners Index Bull 2x Shares

A number of hedge funds have recently made changes to their positions in NUGT. Headlands Technologies LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter worth $195,000. Harbour Investments Inc. raised its position in Direxion Daily Gold Miners Index Bull 2x Shares by 27.5% in the 2nd quarter. Harbour Investments Inc. now owns 7,462 shares of the exchange traded fund’s stock worth $280,000 after purchasing an additional 1,608 shares during the period. Virtu Financial LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter worth $505,000. HighTower Advisors LLC raised its position in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after purchasing an additional 4,605 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock worth $589,000 after purchasing an additional 3,409 shares during the period.

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.