MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Up 9.3% – Should You Buy?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares shot up 9.3% during mid-day trading on Thursday . The company traded as high as $85.05 and last traded at $84.85. 1,106,703 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 1,225,181 shares. The stock had previously closed at $77.63.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The company has a market cap of $722.50 million, a price-to-earnings ratio of 21.92 and a beta of 1.91. The stock’s fifty day moving average is $134.07 and its two-hundred day moving average is $238.77.

Institutional Trading of 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 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.

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.