MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Down 7.8% – Time to Sell?

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) fell 7.8% during mid-day trading on Friday . The company traded as low as $155.80 and last traded at $160.28. 1,074,029 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 1,318,301 shares. The stock had previously closed at $173.82.

MicroSectors Gold Miners 3x Leveraged ETN Stock Down 5.0%

The company has a 50-day moving average of $112.63 and a 200 day moving average of $177.44. The firm has a market capitalization of $1.40 billion, a PE ratio of 21.92 and a beta of 2.11.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in MicroSectors Gold Miners 3x Leveraged ETN stock. Gamco Investors INC. ET AL acquired a new position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 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.