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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $36.36, but opened at $35.42. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $35.70, with a volume of 406,024 shares traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock has a 50 day moving average of $44.26 and a 200 day moving average of $44.95. The firm has a market cap of $525.50 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

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 2nd quarter worth approximately $195,000. Fore Capital LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the 2nd quarter valued at $1,691,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% in the third 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 last quarter. IMC Chicago LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the third quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock valued at $2,126,000 after buying an additional 19,599 shares during the period. Finally, HighTower Advisors LLC grew its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after buying an additional 4,605 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.