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

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares gapped down prior to trading on Wednesday . The stock had previously closed at $98.72, but opened at $88.22. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $95.00, with a volume of 518,646 shares trading hands.

MicroSectors Gold Miners 3x Leveraged ETN Trading Up 17.0%

The stock has a market capitalization of $837.25 million, a P/E ratio of 21.92 and a beta of 1.79. The stock’s 50 day simple moving average is $183.27 and its 200 day simple moving average is $254.53.

Institutional Trading of 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 bought a new position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.