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Soreide Law Group is representing several investors who were sold GDXJ, GDX, and NUGT by their stock brokers around the United States. The Direxion Daily Gold Miners Bull 3X index or "NUGT” is a highly leveraged investment that is not suitable for risk adverse retired investors according to the Financial Industry Regulatory Authority. These investments were presented to clients as conservative gold investments. However, NUGT is a speculative investment that is typically reserved for day traders and not long term gold investors who are seeking to hedge a weakening dollar. These investments seek to replicate various gold mining indexes and do not exactly track the price of gold. NUGT utilizes leverage and all of these gold stock investments are down more than 40% this fiscal year.
Many investors who have heavy gold related losses had brokers who failed to limit their losses, over-concentrated their portfolios in gold, excessively traded, recommended risky gold related assets, used excessive margin, and touted risky gold assets as safe investments. If you feel that your broker has committed these or other negligent acts with your account you may have a viable claim for monetary recovery.
If your stock broker or financial advisor recommended GDXJ also known as the Market Vectors Junior Gold Miners EFT or other high risk gold investments such as GDXJ, GDX or NUGT the highly leveraged Gold miners index that replicates 3 times the daily results please call securities attorney Lars Soreide, Esq., of the Soreide Law Group for a free consultation to learn how you could potentially recoup some of your gold losses at (888) 760-6552. Soreide Law Group is representing investors nationwide before FINRA. For more information as to how you could potentially recover your GDXJ, GDX or NUGT losses through a FINRA arbitration visit our website at: