MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Down – Here’s Why

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) gapped down prior to trading on Friday . The stock had previously closed at $462.64, but opened at $341.51. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $355.2070, with a volume of 502,309 shares.

MicroSectors Gold Miners 3x Leveraged ETN Stock Down 30.3%

The stock has a 50-day moving average of $286.63 and a 200 day moving average of $191.80. The company has a market capitalization of $2.74 billion, a PE ratio of 21.92 and a beta of 2.02.

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 purchased a new position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.