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

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares gapped down prior to trading on Friday . The stock had previously closed at $180.76, but opened at $154.41. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $172.6050, with a volume of 500,702 shares traded.

MicroSectors Gold Miners 3x Leveraged ETN Price Performance

The company has a fifty day moving average price of $178.82 and a two-hundred day moving average price of $113.30. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 21.92 and a beta of 2.02.

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

An institutional investor recently bought a new position in MicroSectors Gold Miners 3x Leveraged ETN stock. Gamco Investors INC. ET AL bought 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 institutional investor bought 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.