MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Sees Large Volume Increase – Time to Buy?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) saw unusually-strong trading volume on Thursday . Approximately 868,100 shares were traded during trading, a decline of 13% from the previous session’s volume of 994,938 shares.The stock last traded at $166.41 and had previously closed at $173.73.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The company has a market capitalization of $1.29 billion, a P/E ratio of 21.92 and a beta of 2.02. The stock has a 50 day moving average price of $335.80 and a 200 day moving average price of $252.41.

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