MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Down 5.4% – Time to Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) fell 5.4% during trading on Wednesday . The stock traded as low as $244.50 and last traded at $248.80. 419,902 shares changed hands during trading, a decline of 61% from the average session volume of 1,067,546 shares. The stock had previously closed at $262.94.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The stock’s 50-day simple moving average is $285.29 and its 200 day simple moving average is $258.16. The company has a market capitalization of $2.07 billion, a PE ratio of 21.92 and a beta of 2.13.

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. Jump Financial LLC acquired a new position in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,597 shares of the company’s stock, valued at approximately $5,019,000. Jump Financial LLC owned approximately 0.24% of MicroSectors Gold Miners 3x Leveraged ETN at the end of the most recent quarter.

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.