MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading 9% Higher – Should You Buy?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s stock price traded up 9% on Wednesday . The company traded as high as $150.25 and last traded at $149.91. 1,198,845 shares changed hands during mid-day trading, an increase of 5% from the average session volume of 1,140,829 shares. The stock had previously closed at $137.59.

MicroSectors Gold Miners 3x Leveraged ETN Trading Up 0.0%

The company’s fifty day moving average is $177.43 and its 200 day moving average is $253.13. The company has a market cap of $1.17 billion, a P/E ratio of 21.92 and a beta of 1.79.

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 bought a new stake in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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.