MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Up 12.4% – Time to Buy?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) was up 12.4% during mid-day trading on Tuesday . The stock traded as high as $158.92 and last traded at $158.75. Approximately 956,303 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 1,067,073 shares. The stock had previously closed at $141.26.

MicroSectors Gold Miners 3x Leveraged ETN Trading Up 5.6%

The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 21.92 and a beta of 1.82. The company’s 50-day simple moving average is $191.88 and its 200-day simple moving average is $257.99.

Institutional Investors 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 bought a new position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 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.