MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Down 10.5% – Here’s What Happened

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) dropped 10.5% during trading on Tuesday . The stock traded as low as $86.02 and last traded at $87.03. Approximately 689,423 shares changed hands during trading, a decline of 43% from the average session volume of 1,209,362 shares. The stock had previously closed at $97.23.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 9.2%

The stock’s 50 day moving average price is $134.07 and its two-hundred day moving average price is $238.77. The firm has a market capitalization of $659.86 million, a price-to-earnings ratio of 21.92 and a beta of 1.91.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in MicroSectors Gold Miners 3x Leveraged ETN stock. Jump Financial LLC bought a new stake in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 20,597 shares of the company’s stock, valued at approximately $5,019,000. Jump Financial LLC owned approximately 0.24% of MicroSectors Gold Miners 3x Leveraged ETN at the end of the most recent quarter.

MicroSectors Gold Miners 3x Leveraged ETN Company Profile

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.