MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Down 10.5% – Here’s What Happened

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s share price dropped 10.5% during mid-day trading on Tuesday . The stock traded as low as $86.02 and last traded at $87.03. Approximately 689,423 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,209,362 shares. The stock had previously closed at $97.23.

MicroSectors Gold Miners 3x Leveraged ETN Price Performance

The firm has a market capitalization of $755.23 million, a PE ratio of 21.92 and a beta of 1.91. The stock’s 50-day moving average price is $138.94 and its 200 day moving average price is $241.05.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in MicroSectors Gold Miners 3x Leveraged ETN stock. Gamco Investors INC. ET AL bought a new position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 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.