MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Gap Down – Should You Sell?

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU)’s share price gapped down before the market opened on Friday . The stock had previously closed at $462.64, but opened at $341.51. MicroSectors Gold Miners 3x Leveraged ETN shares last traded at $355.2070, with a volume of 502,309 shares changing hands.

MicroSectors Gold Miners 3x Leveraged ETN Price Performance

The firm has a market capitalization of $2.41 billion, a PE ratio of 21.92 and a beta of 2.02. The company has a fifty day moving average of $289.21 and a 200-day moving average of $194.12.

Institutional Investors 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 purchased a new stake in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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.