Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Share Price Cross Below 200 Day Moving Average – Time to Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $45.05 and traded as low as $39.69. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $40.80, with a volume of 2,109,656 shares changing hands.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Performance

The firm has a 50-day moving average price of $39.98 and a two-hundred day moving average price of $45.02. The firm has a market cap of $600.65 million, a price-to-earnings ratio of 19.80 and a beta of 1.57.

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

Several institutional investors and hedge funds have recently made changes to their positions in NUGT. 180 Wealth Advisors LLC raised its holdings in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock valued at $230,000 after buying an additional 590 shares during the last quarter. Virtu Financial LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at about $505,000. HighTower Advisors LLC raised its stake in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% during the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock valued at $564,000 after acquiring an additional 4,605 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% during 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 acquiring an additional 3,409 shares during the period. Finally, IMC Chicago LLC lifted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% during the 3rd quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock worth $2,126,000 after acquiring an additional 19,599 shares during the period.

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.