MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Down 7.1% – What’s Next?

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) dropped 7.1% during trading on Friday . The company traded as low as $328.00 and last traded at $317.7090. Approximately 128,819 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 565,146 shares. The stock had previously closed at $341.86.

MicroSectors Gold Miners 3x Leveraged ETN Stock Down 1.5%

The firm has a 50 day moving average price of $234.54 and a two-hundred day moving average price of $166.84. The company has a market capitalization of $2.86 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

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 filing with the SEC. The institutional investor bought 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.