MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Stock Price Down 5.3% – Time to Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s stock price fell 5.3% during mid-day trading on Wednesday . The company traded as low as $269.01 and last traded at $274.2940. 182,820 shares traded hands during trading, a decline of 76% from the average session volume of 764,836 shares. The stock had previously closed at $289.50.

MicroSectors Gold Miners 3x Leveraged ETN Stock Down 4.8%

The company’s fifty day moving average price is $195.46 and its 200 day moving average price is $142.96. The company has a market capitalization of $2.34 billion, a P/E ratio of 21.92 and a beta of 2.02.

Hedge Funds Weigh In On 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 acquired a new stake in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 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.