MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Shares Gap Up – Should You Buy?

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) shares gapped up before the market opened on Monday . The stock had previously closed at $29.76, but opened at $30.63. MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN shares last traded at $31.06, with a volume of 27,829 shares traded.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Stock Performance

The stock has a 50-day moving average of $32.56 and a 200-day moving average of $37.54.

Hedge Funds Weigh In On MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

A hedge fund recently bought a new stake in MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN stock. Bogart Wealth LLC bought a new position in shares of MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,500 shares of the company’s stock, valued at approximately $47,000.

About MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

The MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (OILU) is an exchange-traded fund that mostly invests in energy equity. The fund provides 3x daily leveraged exposure to a tier-weighted index of US firms involved in oil and gas exploration and production. OILU was launched on Nov 12, 2021 and is issued by REX Microsectors.