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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share 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 traded.

Direxion Daily Gold Miners Index Bull 2x Shares Price Performance

The stock has a market capitalization of $597.72 million, a PE ratio of 19.80 and a beta of 1.57. The business’s fifty day moving average price is $40.26 and its 200-day moving average price is $45.02.

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

A number of institutional investors and hedge funds have recently modified their holdings of the company. 180 Wealth Advisors LLC increased its position 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 worth $230,000 after purchasing an additional 590 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 40.4% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,856 shares of the exchange traded fund’s stock worth $589,000 after purchasing an additional 3,409 shares during the last quarter. HighTower Advisors LLC increased its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 68.0% in the third quarter. HighTower Advisors LLC now owns 11,378 shares of the exchange traded fund’s stock worth $564,000 after purchasing an additional 4,605 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the third quarter worth approximately $505,000. Finally, IMC Chicago LLC increased its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 84.4% in the third quarter. IMC Chicago LLC now owns 42,810 shares of the exchange traded fund’s stock worth $2,126,000 after purchasing an additional 19,599 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.