Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT) Trading Down 5.8% – Here’s Why

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s share price fell 5.8% on Friday . The company traded as low as $51.16 and last traded at $51.00. 1,834,579 shares were traded during mid-day trading, an increase of 20% from the average session volume of 1,531,155 shares. The stock had previously closed at $54.12.

Direxion Daily Gold Miners Index Bull 2x Shares Stock Down 6.7 %

The stock has a market capitalization of $739.68 million, a P/E ratio of 19.80 and a beta of 1.57. The business’s 50 day simple moving average is $42.02 and its two-hundred day simple moving average is $45.42.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at about $203,000. 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 valued at $230,000 after purchasing an additional 590 shares in the last quarter. Beacon Harbor Wealth Advisors Inc. lifted its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 55.6% during the fourth quarter. Beacon Harbor Wealth Advisors Inc. now owns 7,000 shares of the exchange traded fund’s stock valued at $246,000 after purchasing an additional 2,500 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the third quarter valued at about $505,000. Finally, PFG Investments LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares during the fourth quarter valued at about $364,000.

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.