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

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares gapped down before the market opened on Wednesday . The stock had previously closed at $85.53, but opened at $79.74. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $80.49, with a volume of 573,088 shares.

MicroSectors Gold Miners 3x Leveraged ETN Stock Down 12.7%

The firm’s fifty day simple moving average is $136.47 and its 200-day simple moving average is $239.93. The company has a market cap of $634.95 million, a PE ratio of 21.92 and a beta of 1.91.

Institutional Inflows and Outflows

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 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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.