Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Shares Pass Below 200 Day Moving Average – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) shares crossed 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 traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm’s 50-day moving average price is $39.98 and its 200-day moving average price is $45.02. The company has a market cap of $600.65 million, a price-to-earnings ratio of 19.80 and a beta of 1.57.

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

Several institutional investors and hedge funds have recently modified their holdings of NUGT. 180 Wealth Advisors LLC lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% during the fourth quarter. 180 Wealth Advisors LLC now owns 6,529 shares of the exchange traded fund’s stock worth $230,000 after purchasing an additional 590 shares in the last quarter. Virtu Financial LLC purchased a new stake in Direxion Daily Gold Miners Index Bull 2x Shares during the 3rd quarter worth $505,000. HighTower Advisors LLC lifted its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the 3rd quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after buying an additional 4,605 shares in the last quarter. IMC Chicago LLC boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% in the 3rd 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 last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock valued at $589,000 after buying an additional 3,409 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.