MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Stock Price Down 6.8% – Time to Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s share price traded down 6.8% during mid-day trading on Wednesday . The stock traded as low as $159.38 and last traded at $160.35. 372,437 shares traded hands during trading, a decline of 64% from the average session volume of 1,030,171 shares. The stock had previously closed at $172.14.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The stock’s 50 day moving average price is $256.55 and its 200 day moving average price is $257.52. The company has a market capitalization of $1.44 billion, a P/E ratio of 21.92 and a beta of 2.13.

Institutional Trading of MicroSectors Gold Miners 3x Leveraged ETN

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 shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the third quarter, according to its most recent filing with the SEC. The firm 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.