MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Stock Price Down 17.8% – What’s Next?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) dropped 17.8% during mid-day trading on Thursday . The stock traded as low as $422.66 and last traded at $431.4390. Approximately 671,679 shares changed hands during mid-day trading, an increase of 4% from the average daily volume of 642,894 shares. The stock had previously closed at $525.00.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The firm has a market capitalization of $2.41 billion, a PE ratio of 21.92 and a beta of 2.02. The stock’s 50-day simple moving average is $289.21 and its 200-day simple moving average is $193.26.

Institutional Trading of 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 bought a new position in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the third quarter, according to the company in its most recent filing with the Securities and 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.