MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Down – Should You Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares gapped down before the market opened on Wednesday . The stock had previously closed at $98.72, but opened at $88.22. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $95.00, with a volume of 518,646 shares.

MicroSectors Gold Miners 3x Leveraged ETN Price Performance

The stock has a 50-day simple moving average of $186.96 and a 200 day simple moving average of $255.41. The company has a market capitalization of $755.65 million, a PE ratio of 21.92 and a beta of 1.79.

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 acquired a new stake in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $205,000.

MicroSectors Gold Miners 3x Leveraged ETN Company Profile

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.