MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) Trading Down 11.5% – Here’s Why

MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) was down 11.5% on Thursday . The company traded as low as $188.62 and last traded at $189.06. Approximately 575,211 shares were traded during trading, a decline of 45% from the average daily volume of 1,047,177 shares. The stock had previously closed at $213.67.

MicroSectors Gold Miners 3x Leveraged ETN Stock Down 7.6%

The stock’s 50-day simple moving average is $274.07 and its 200 day simple moving average is $259.01. The firm has a market cap of $1.68 billion, a P/E ratio of 21.92 and a beta of 2.13.

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. Jump Financial LLC bought a new stake in MicroSectors Gold Miners 3x Leveraged ETN (NYSEARCA:GDXU) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 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.