MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Up – Should You Buy?

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) gapped up prior to trading on Tuesday . The stock had previously closed at $279.69, but opened at $333.00. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $320.7780, with a volume of 342,964 shares changing hands.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 19.6%

The company has a 50-day moving average price of $296.15 and a two-hundred day moving average price of $199.11. The stock has a market capitalization of $2.20 billion, a P/E ratio of 21.92 and a beta of 2.02.

Institutional Trading of 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 MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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.