MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Down 8.3% – Should You Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s stock price traded down 8.3% on Monday . The stock traded as low as $77.00 and last traded at $77.00. 323,011 shares changed hands 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 Up 6.4%

The company has a 50-day moving average price of $127.52 and a 200-day moving average price of $233.18. The firm has a market capitalization of $693.35 million, a price-to-earnings ratio of 21.92 and a beta of 1.91.

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 purchased a new position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 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.