MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Stock Price Down 8.3% – Here’s What Happened

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) dropped 8.3% during mid-day trading on Monday . The stock traded as low as $77.00 and last traded at $77.00. 323,011 shares were traded during mid-day trading, a decline of 73% from the average session volume of 1,217,105 shares. The stock had previously closed at $84.01.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The stock has a fifty day simple moving average of $130.84 and a 200 day simple moving average of $236.10. The firm has a market cap of $643.11 million, a P/E ratio of 21.92 and a beta of 1.91.

Hedge Funds 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 stake 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 Securities & Exchange Commission. The fund 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.