MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Stock Price Up 9% – Should You Buy?

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) rose 9% during trading on Wednesday . The company traded as high as $150.25 and last traded at $149.91. 1,198,845 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 1,140,829 shares. The stock had previously closed at $137.59.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 7.1%

The firm has a market cap of $971.38 million, a P/E ratio of 21.92 and a beta of 1.79. The firm’s 50 day moving average is $173.55 and its two-hundred day moving average is $251.75.

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

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 MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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.