MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Stock Price Down 7.8% – Here’s Why

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares fell 7.8% on Monday . The company traded as low as $424.79 and last traded at $442.8050. 685,116 shares traded hands during mid-day trading, a decline of 12% from the average session volume of 775,905 shares. The stock had previously closed at $480.06.

MicroSectors Gold Miners 3x Leveraged ETN Price Performance

The stock has a market capitalization of $4.01 billion, a P/E ratio of 21.92 and a beta of 2.02. The stock’s 50-day simple moving average is $343.48 and its 200 day simple moving average is $233.91.

Institutional Trading of MicroSectors Gold Miners 3x Leveraged ETN

An institutional investor recently bought a new position in MicroSectors Gold Miners 3x Leveraged ETN stock. Gamco Investors INC. ET AL purchased a new stake in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,000 shares of the company’s stock, valued at approximately $205,000.

MicroSectors Gold Miners 3x Leveraged ETN Company Profile

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.