MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Down – Here’s Why

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) gapped down before the market opened on Tuesday . The stock had previously closed at $161.17, but opened at $144.28. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $148.20, with a volume of 797,695 shares.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 7.1%

The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 21.92 and a beta of 1.93. The firm’s 50 day simple moving average is $108.47 and its 200-day simple moving average is $181.37.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in MicroSectors Gold Miners 3x Leveraged ETN stock. Gamco Investors INC. ET AL acquired a new stake in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund 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.