MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Sees Unusually-High Trading Volume – Still a Buy?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares saw an uptick in trading volume on Monday . 975,526 shares traded hands during mid-day trading, an increase of 25% from the previous session’s volume of 781,284 shares.The stock last traded at $278.48 and had previously closed at $284.07.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 4.9%

The business’s fifty day moving average price is $289.21 and its two-hundred day moving average price is $194.99. The firm has a market cap of $2.30 billion, a P/E ratio of 21.92 and a beta of 2.02.

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 position in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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.