MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Down 13.5% – Time to Sell?
by Sarita Garza · The Markets DailyMicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU – Get Free Report)’s stock price dropped 13.5% during mid-day trading on Tuesday . The stock traded as low as $88.80 and last traded at $89.60. Approximately 969,260 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 1,100,776 shares. The stock had previously closed at $103.63.
MicroSectors Gold Miners 3x Leveraged ETN Stock Down 6.8%
The stock has a market cap of $820.59 million, a price-to-earnings ratio of 21.92 and a beta of 1.79. The company’s 50-day moving average is $188.30 and its 200-day moving average is $255.95.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in MicroSectors Gold Miners 3x Leveraged ETN stock. Gamco Investors INC. ET AL purchased a new position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $205,000.
About MicroSectors Gold Miners 3x Leveraged ETN
The MicroSectors Gold Miners 3X Leveraged ETN (GDXU) is an exchange-traded fund that is based on the S-Network MicroSectors Gold Miners index. The fund provides 3x daily leveraged exposure to a market-cap weighted index comprised of two gold miners ETFs. GDXU was launched on Dec 7, 2020 and is issued by REX Microsectors.