Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Share Price Pass Below Two Hundred Day Moving Average – Should You Sell?

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The firm has a market capitalization of $597.72 million, a P/E ratio of 19.80 and a beta of 1.57. The business’s 50-day moving average is $40.26 and its 200 day moving average is $45.02.

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

Hedge funds have recently bought and sold shares of the business. 180 Wealth Advisors LLC increased its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 9.9% in the 4th 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 period. Virtu Financial LLC bought a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the 3rd quarter valued at about $505,000. HighTower Advisors LLC increased 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 valued at $564,000 after buying an additional 4,605 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 period. Finally, IMC Chicago LLC increased its holdings 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 period.

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.