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

Shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) gapped up before the market opened on Wednesday . The stock had previously closed at $131.72, but opened at $142.88. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $138.24, with a volume of 706,140 shares traded.

MicroSectors Gold Miners 3x Leveraged ETN Price Performance

The business’s 50 day moving average is $95.47 and its 200-day moving average is $202.91. The company has a market cap of $1.17 billion, a PE ratio of 21.92 and a beta of 1.93.

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

An institutional investor 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) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.