Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Down 4.5% – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price fell 4.5% during mid-day trading on Friday . The stock traded as low as $75.40 and last traded at $74.91. 388,153 shares traded hands during trading, a decline of 77% from the average session volume of 1,700,652 shares. The stock had previously closed at $78.45.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 5.7%

The stock has a market capitalization of $565.79 million, a PE ratio of 22.41 and a beta of 1.08. The firm has a 50-day moving average price of $67.22 and a 200-day moving average price of $53.52.

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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NUGT. IMC Chicago LLC raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 182.7% in the 4th quarter. IMC Chicago LLC now owns 121,040 shares of the exchange traded fund’s stock valued at $4,256,000 after acquiring an additional 78,230 shares during the period. SBI Securities Co. Ltd. bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at about $666,000. Beacon Harbor Wealth Advisors Inc. raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% in the 4th quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock valued at $246,000 after acquiring an additional 2,500 shares during the period. EverSource Wealth Advisors LLC bought a new stake in Direxion Daily Gold Miners Index Bull 2x Shares in the 4th quarter valued at about $543,000. Finally, Seaview Investment Managers LLC purchased a new position in Direxion Daily Gold Miners Index Bull 2x Shares during the 4th quarter valued at about $703,000.

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.