MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Sees Strong Trading Volume – Time to Buy?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares saw an uptick in trading volume on Friday . 734,129 shares changed hands during trading, a decline of 32% from the previous session’s volume of 1,082,022 shares.The stock last traded at $122.13 and had previously closed at $142.26.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 22.9%

The stock’s 50 day moving average price is $190.58 and its 200 day moving average price is $256.84. The company has a market capitalization of $931.77 million, a price-to-earnings ratio of 21.92 and a beta of 1.79.

Hedge Funds 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 position in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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.