MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Up – Should You Buy?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $348.91, but opened at $376.83. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $358.00, with a volume of 256,716 shares traded.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 11.1%

The stock has a market capitalization of $2.68 billion, a P/E ratio of 21.92 and a beta of 2.02. The firm’s fifty day moving average is $350.41 and its 200-day moving average is $239.72.

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