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

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) gapped down prior to trading on Wednesday . The stock had previously closed at $85.53, but opened at $79.74. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $80.49, with a volume of 573,088 shares changing hands.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The company has a fifty day simple moving average of $132.32 and a 200 day simple moving average of $237.54. The stock has a market capitalization of $722.41 million, a price-to-earnings ratio of 21.92 and a beta of 1.91.

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 MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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.