MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Down 10.2% – What’s Next?

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) were down 10.2% during trading on Tuesday . The stock traded as low as $123.20 and last traded at $124.20. 828,919 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,266,863 shares. The stock had previously closed at $138.29.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 8.1%

The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 21.92 and a beta of 1.93. The stock’s 50 day moving average is $96.27 and its two-hundred day moving average is $193.57.

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

An institutional investor recently bought a new stake in MicroSectors Gold Miners 3x Leveraged ETN stock. Gamco Investors INC. ET AL acquired a new position in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 1,000 shares of the company’s stock, valued at approximately $205,000.

MicroSectors Gold Miners 3x Leveraged ETN Company Profile

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.