MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Shares Down 10% – Here’s What Happened

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) fell 10% during mid-day trading on Friday . The company traded as low as $142.28 and last traded at $142.28. 860,541 shares changed hands during mid-day trading, a decline of 2% from the average session volume of 878,859 shares. The stock had previously closed at $158.05.

MicroSectors Gold Miners 3x Leveraged ETN Trading Down 10.8%

The business has a 50 day moving average of $346.08 and a 200-day moving average of $251.73. The stock has a market cap of $1.20 billion, a PE ratio of 21.92 and a beta of 2.02.

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

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