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

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) gapped down prior to trading on Monday . The stock had previously closed at $91.50, but opened at $87.83. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $86.10, with a volume of 475,986 shares trading hands.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 5.4%

The business has a 50-day moving average price of $155.35 and a two-hundred day moving average price of $247.06. The firm has a market capitalization of $735.76 million, a price-to-earnings ratio of 21.92 and a beta of 1.79.

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