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

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $354.00, but opened at $380.54. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $356.1410, with a volume of 338,442 shares trading hands.

MicroSectors Gold Miners 3x Leveraged ETN Stock Performance

The firm has a market cap of $2.95 billion, a P/E ratio of 21.92 and a beta of 2.02. The firm has a 50 day simple moving average of $309.54 and a 200 day simple moving average of $208.58.

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 acquired a new position in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 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.