MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Down – Here’s What Happened

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares gapped down prior to trading on Tuesday . The stock had previously closed at $471.91, but opened at $379.21. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $319.1990, with a volume of 627,990 shares.

MicroSectors Gold Miners 3x Leveraged ETN Price Performance

The company has a market capitalization of $3.04 billion, a P/E ratio of 21.92 and a beta of 2.02. The firm’s 50-day moving average is $347.15 and its 200-day moving average is $236.59.

Hedge Funds Weigh In On 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 stake in shares of 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 fund 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.