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

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $162.05, but opened at $147.56. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $150.00, with a volume of 810,604 shares changing hands.

MicroSectors Gold Miners 3x Leveraged ETN Stock Up 3.0%

The firm’s fifty day moving average price is $120.59 and its 200 day moving average price is $170.82. The stock has a market cap of $1.27 billion, a PE ratio of 21.92 and a beta of 2.11.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in MicroSectors Gold Miners 3x Leveraged ETN stock. Gamco Investors INC. ET AL acquired a new stake in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 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.