MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Up 9.9% – Here’s Why

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s share price shot up 9.9% during trading on Wednesday . The stock traded as high as $94.00 and last traded at $93.73. Approximately 1,135,375 shares changed hands during trading, a decline of 5% from the average daily volume of 1,189,671 shares. The stock had previously closed at $85.27.

MicroSectors Gold Miners 3x Leveraged ETN Stock Up 4.0%

The company has a market capitalization of $754.12 million, a PE ratio of 21.92 and a beta of 1.79. The firm has a 50-day moving average of $148.77 and a two-hundred day moving average of $245.19.

Hedge Funds Weigh In On MicroSectors Gold Miners 3x Leveraged ETN

An institutional investor recently bought a new position 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) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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.