|Bid||23.99 x 1200|
|Ask||24.15 x 800|
|Day's Range||23.71 - 24.91|
|52 Week Range||23.71 - 945.00|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.00%|
People are worried about the possible SEC approval of 4x leveraged ETFs, but you should not let 400% leverage concern you. In this podcast, I explain why quadruple leverage is no better or worse than plenty of other funds already on the market in the leverage ETF world.
The VanEck Vectors Junior Gold Miners exchange-traded fund (GDXJ) is grappling with the burden of success. The VanEck Junior ETF and its large-cap sibling, the VanEck Vectors Gold Miners ETF (GDX), absorbed more than three-quarters of that, according to research firm XTF. The Junior ETF has had to come up with new ways to invest all of that extra money, particularly since its reference index, VanEck’s MVIS Global Junior Gold Miners, won’t rebalance until June 17, when it will expand its universe of stocks to companies with larger market capitalizations.
The Direxion Daily Junior Gold Miners Bull 3X ETF (JNUG) is trading at a significant premium to its net asset value, possibly the largest in its history. "The suspension is due to the limited availability of certain investments or financial instruments used to provide requisite exposure to the MVIS Global Junior Gold Miners index," said Direxion in a press release. Note that the Direxion's press release followed on the heels of VanEck's near-admission that its Junior Gold Miners ETF (GDXJ) was getting too big for its britches, a result of JNUG holding a substantial amount of its shares outstanding.