MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Down – Time to Sell?

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) gapped down before the market opened on Thursday . The stock had previously closed at $321.47, but opened at $277.99. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $268.9630, with a volume of 345,678 shares trading hands.

MicroSectors Gold Miners 3x Leveraged ETN Trading Up 16.5%

The business’s 50 day simple moving average is $298.69 and its 200 day simple moving average is $201.09. The firm has a market capitalization of $2.56 billion, a PE ratio of 21.92 and a beta of 2.02.

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 position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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.