MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Down 4.8% – Here’s What Happened

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) shares fell 4.8% during trading on Wednesday . The company traded as low as $186.24 and last traded at $189.47. Approximately 414,081 shares changed hands during mid-day trading, a decline of 68% from the average daily volume of 1,292,648 shares. The stock had previously closed at $199.03.

MicroSectors Gold Miners 3x Leveraged ETN Stock Down 7.1%

The company has a market capitalization of $1.57 billion, a PE ratio of 21.92 and a beta of 1.93. The firm has a 50-day moving average of $103.70 and a two-hundred day moving average of $185.37.

Hedge Funds Weigh In On MicroSectors Gold Miners 3x Leveraged ETN

An institutional investor recently bought a new stake 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 Form 13F filing with the SEC. 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.