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 traded down 5% during trading on Friday . The company traded as low as $40.73 and last traded at $40.81. 743,571 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 2,213,729 shares. The stock had previously closed at $42.95.

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

The business’s 50-day simple moving average is $47.22 and its 200-day simple moving average is $45.24. The stock has a market cap of $596.55 million, a PE ratio of 19.80 and a beta of 1.57.

Hedge Funds Weigh In On Direxion Daily Gold Miners Index Bull 2x Shares

A number of hedge funds have recently modified their holdings of NUGT. Fore Capital LLC purchased a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at about $1,691,000. IMC Chicago LLC increased its stake in shares of 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 purchasing an additional 19,599 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at approximately $505,000. Headlands Technologies LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the second quarter valued at approximately $195,000. Finally, HighTower Advisors LLC increased 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 purchasing an additional 4,605 shares in 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.