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

Direxion Daily Gold Miners Index Bull 2x Shares (NYSEARCA:NUGT)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $199.67 and traded as low as $115.77. Direxion Daily Gold Miners Index Bull 2x Shares shares last traded at $116.02, with a volume of 731,188 shares.

Direxion Daily Gold Miners Index Bull 2x Shares Trading Down 0.8%

The business has a 50-day moving average of $157.36 and a two-hundred day moving average of $199.67. The firm has a market cap of $846.95 million, a P/E ratio of 22.41 and a beta of 1.25.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NUGT. Parallel Advisors LLC acquired a new position in Direxion Daily Gold Miners Index Bull 2x Shares in the first quarter valued at $31,000. Optiver Holding B.V. grew its holdings in Direxion Daily Gold Miners Index Bull 2x Shares by 72.3% during the 1st quarter. Optiver Holding B.V. now owns 3,052 shares of the exchange traded fund’s stock worth $575,000 after acquiring an additional 1,281 shares during the period. Frazier Financial Advisors LLC bought a new position in shares of Direxion Daily Gold Miners Index Bull 2x Shares in the 1st quarter worth about $753,000. Virtu Financial LLC raised its position in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 548.5% in the 4th quarter. Virtu Financial LLC now owns 35,648 shares of the exchange traded fund’s stock worth $6,554,000 after acquiring an additional 30,151 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Direxion Daily Gold Miners Index Bull 2x Shares by 3.2% in the 4th quarter. NewEdge Advisors LLC now owns 2,224 shares of the exchange traded fund’s stock valued at $409,000 after purchasing an additional 69 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.