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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares gapped down before the market opened on Monday . The stock had previously closed at $43.20, but opened at $42.31. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $41.51, with a volume of 475,993 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The stock has a market cap of $605.19 million, a P/E ratio of 19.80 and a beta of 1.57. The stock has a 50-day moving average price of $48.75 and a 200-day moving average price of $45.29.

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. Fore Capital LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the second quarter worth approximately $1,691,000. IMC Chicago LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% in the third quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock valued at $2,126,000 after purchasing an additional 19,599 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its position 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 valued at $589,000 after purchasing an additional 3,409 shares during the last quarter. HighTower Advisors LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after purchasing an additional 4,605 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter valued at approximately $505,000.

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.