MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Down 17.8% – Should You Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s stock price traded down 17.8% during mid-day trading on Thursday . The stock traded as low as $422.66 and last traded at $431.4390. 671,679 shares were traded during trading, an increase of 4% from the average session volume of 642,894 shares. The stock had previously closed at $525.00.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 15.9%

The stock’s 50 day moving average is $280.43 and its two-hundred day moving average is $189.90. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 21.92 and a beta of 2.02.

Institutional Investors 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 acquired a new position in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the 3rd quarter, according to its most recent Form 13F filing with the 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.