MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Up 7.8% – Time to Buy?

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shot up 7.8% during mid-day trading on Friday . The company traded as high as $187.00 and last traded at $183.78. Approximately 1,021,294 shares changed hands during trading, a decline of 20% from the average session volume of 1,284,255 shares. The stock had previously closed at $170.52.

MicroSectors Gold Miners 3x Leveraged ETN Trading Up 9.3%

The firm has a market capitalization of $1.58 billion, a P/E ratio of 21.92 and a beta of 1.93. The business has a 50-day moving average of $99.71 and a 200 day moving average of $187.81.

Institutional Investors Weigh In On MicroSectors Gold Miners 3x Leveraged ETN

An institutional investor recently bought a new position 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 third quarter, according to its most recent disclosure 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.