Direxion Daily Gold Miners Index Bear 2x Shares (NYSEARCA:DUST) Stock Price Down 4.9% – Here’s Why

Shares of Direxion Daily Gold Miners Index Bear 2x Shares (NYSEARCA:DUST) dropped 4.9% on Wednesday . The company traded as low as $43.37 and last traded at $43.40. Approximately 834,605 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 799,931 shares. The stock had previously closed at $45.62.

Direxion Daily Gold Miners Index Bear 2x Shares Trading Down 3.2 %

The firm’s 50 day moving average is $59.02 and its two-hundred day moving average is $304.27.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Direxion Daily Gold Miners Index Bear 2x Shares by 131.9% in the 4th quarter. JPMorgan Chase & Co. now owns 443 shares of the exchange traded fund’s stock valued at $30,000 after purchasing an additional 252 shares during the last quarter. Spire Wealth Management purchased a new position in Direxion Daily Gold Miners Index Bear 2x Shares in the fourth quarter valued at $254,000. Finally, Virtu Financial LLC raised its stake in Direxion Daily Gold Miners Index Bear 2x Shares by 163.9% in the third quarter. Virtu Financial LLC now owns 560,878 shares of the exchange traded fund’s stock valued at $2,995,000 after buying an additional 348,346 shares in the last quarter.

Direxion Daily Gold Miners Index Bear 2x Shares Company Profile

The Direxion Daily Gold Miners Index Bear 2X Shares (DUST) is an exchange-traded fund that is based on the NYSE Arca Gold Miners (NTR) index. The fund provides 2x inverse exposure to a market-cap-weighted index of global gold and silver mining firms. DUST was launched on Dec 8, 2010 and is managed by Direxion.