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

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $131.72, but opened at $142.88. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $138.24, with a volume of 706,140 shares changing hands.

MicroSectors Gold Miners 3x Leveraged ETN Stock Down 8.8%

The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 21.92 and a beta of 1.93. The stock’s 50 day moving average price is $95.06 and its two-hundred day moving average price is $198.39.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in MicroSectors Gold Miners 3x Leveraged ETN stock. Jump Financial LLC purchased a new position in shares of MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 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 reporting period.

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.