MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Stock Price Up 11.8% – Still a Buy?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares were up 11.8% during mid-day trading on Tuesday . The stock traded as high as $186.00 and last traded at $185.60. Approximately 591,577 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 1,041,751 shares. The stock had previously closed at $165.94.

MicroSectors Gold Miners 3x Leveraged ETN Price Performance

The company has a market cap of $1.94 billion, a price-to-earnings ratio of 21.92 and a beta of 2.02. The business has a 50 day simple moving average of $317.48 and a 200 day simple moving average of $253.52.

Institutional Inflows and Outflows

An institutional investor recently bought a new position 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) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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.