MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Down – Time to Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $188.62, but opened at $179.41. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $179.42, with a volume of 344,680 shares.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The firm has a fifty day moving average of $102.47 and a 200-day moving average of $186.23. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 21.92 and a beta of 1.93.

Hedge Funds Weigh In On MicroSectors Gold Miners 3x Leveraged ETN

A hedge fund recently bought a new position 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) in the third quarter, according to the company in its most recent 13F filing with the SEC. 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.