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MicroSectors Gold Miners 3X Leveraged ETN (ARCA:GDXU), Short Interest Report

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

Prior to March, traders who wanted to go long or short gold miners with 3x leverage had a number of options. 

The 3x Gold Trade Is Back

Long Ideas

Short Ideas

Trading Ideas

GOLD

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

New 3X Leveraged Gold Miners ETNs Begin Trading

Sector ETFs

FNGS

FNGU

Gold is hot this year and the miners are even hotter, a scenario bringing more light to the various leveraged exchange traded products that provide access to the companies extracting gold from the earth.

New ETNs Bring Leverage, Spice To Gold Miners

HomeStreet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HMST#NASDAQ">HMST</a>) reported quarterly losses of $(0.40) per share which missed the analyst consensus estimate of $(0.08) by 400 percent.

Earnings

Earnings Misses

HMST

HomeStreet Q1 2024 GAAP EPS $(0.40) Misses $(0.08) Estimate

Ponce Finl Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PDLB#NASDAQ">PDLB</a>) reported quarterly earnings of $0.11 per share which beat the analyst consensus estimate of $(0.03) by 466.67 percent.

Earnings Beats

PDLB

Ponce Finl Gr Q1 2024 GAAP EPS $0.11 Beats $(0.03) Estimate

BHAT

Blue Hat FY23 Revenue 73.68M

Gevo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEVO#NASDAQ">GEVO</a>) has issued a response to the recently unveiled version of the Argonne National Laboratory Greenhouse Gases, Regulated Emissions, and Energy use in Technologies (GREET) method and model for carbon accounting. This model will be utilized for lifecycle greenhouse gas emissions calculations under the Inflation Reduction Act's (IRA) Section 40B sustainable aviation fuel (SAF) tax credits.
"Today's guidance reinforces the importance of climate-smart agriculture and other decarbonization methods like carbon capture and storage (CCS) – core tenets of Gevo's business model for sustainable aviation fuel and other products," said Dr. Patrick R. Gruber, CEO of Gevo. "Our cutting-edge programs source sustainable feedstocks produced using a variety of climate-smart agricultural practices, and our Verity carbon accounting tool allows farmers to incorporate and track emissions reduction practices tailored to their individual fields. We look forward to sharing key insights from anonymized data to inform the Administration's upcoming 45Z SAF tax credit guidance – and we will continue to advocate for science-based policies that support CCS and provide new markets for farmers focused on carbon abatement from agricultural activities."
For nearly two decades, Gevo has led the research and development of new fuels and products that support the decarbonization of transportation and help industries reach their net-zero goals, including agriculture. Gevo has advocated for use of GREET as the science-based carbon accounting tool to determine the lifecycle carbon intensity of SAF and ensure important emissions reductions throughout the SAF supply chain – including from climate-smart agriculture practices and carbon capture and storage – are accounted for and credited, while maintaining GREET's data-driven integrity.
Gevo's wholly owned subsidiary, Verity, uses distributed ledger technology to facilitate accurate accounting of emission reduction efforts from on-farm practices, including on a field-level basis. This auditable technology allows farmers to track and report the carbon reductions they achieve, including through climate-smart agriculture and other practices. Gevo partners with farmers using Verity to work collaboratively to identify emissions reductions opportunities that are tailored to field-level needs.
Dr. Gruber concluded, "Today, the Administration's actions recognize the power of agriculture and lay the groundwork for implementation of future SAF tax credits. A science-based approach to the Section 45Z credit will ensure that biofuel producers, supported by American farmers, play a vital role in scaling&nbsp;the hard-to-decarbonize aviation industry."
SAF with greenhouse gas emissions that are at least 50% lower than conventional aviation fuel will qualify for tax credits created by the IRA. Gevo has long believed that the GREET lifecycle analysis method and model enables the most current and precise measurement of SAF carbon intensity, accurately counting carbon reduction benefits of agricultural feedstocks, including at the field level. In&nbsp;<a href="https://www.globenewswire.com/Tracker?data=lPZREAgR5EKSO8Pv4gc1CFlzfTehzWBk8zYnzbfOMealzWGw1iF3evCiqVLitzu1hKYyRuYkJiZKtbQRf2m2w7-rFwmIRuvTlw4cHelhsY7Ry_IulilK2KuWEOR5KoZZONgkQFWqM93DUQw3Zf3q2ahE0-RrvtmCZ3yOPZhH7BiHjrtlLBkOXN4nqLJ6iC6pz9G3zIAmxxJuSLw1H76BOA==">December 2023,</a>&nbsp;Gevo applauded the Administration's announcement to include the Argonne GREET model as a "similar methodology" under the IRA Section 40B tax credit; and we believe today's Section 40B model rightfully puts a premium on driving down carbon abatement throughout the value chain.
With completion of the Argonne GREET 40B SAF tax credit model, Gevo expects the Administration to expand on climate smart ag practices and flexibility when implementing the IRA Section 45Z SAF tax credit. Clear and timely rules for the 45Z Clean Fuel Production tax credit in effect from 2025 through 2027 will be critical to meeting carbon abatement goals and helping farmers plan for successful growing seasons, without stranding SAF investments.

GEVO

Gevo's Announces Co's Sustainable Aviation Fuel Well-Positioned In Light Of New Guidance From Treasury Department

Biotech

General

NBIX

Neurocrine Biosciences Announces FDA Approval Of INGREZZA SPRINKLE Capsules

ROKU

Roku Debuts New Video Experiences, Ad Solutions, And New Content Partnerships

Dividends

PCAR

PACCAR Increases Quarterly Dividend From $0.27 To $0.30

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.iconplc.com%2F&amp;esheet=53968413&amp;newsitemid=20240430675153&amp;lan=en-US&amp;anchor=ICON+plc&amp;index=1&amp;md5=0c82fd737039557352788a913a0e252e">ICON plc</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLR#NASDAQ">ICLR</a>) ("ICON"), a world-leading healthcare intelligence and clinical research organization, today announced the pricing of a USD 2 billion SEC-registered bond offering, consisting of $750,000,000 5.809% Senior Secured Notes due 2027, $750,000,000 5.849% Senior Secured Notes due 2029 and $500,000,000 6.000% Senior Secured Notes due 2034 (collectively, the "Notes").
The Notes will be issued by ICON's wholly-owned subsidiary, ICON Investments Six Designated Activity Company (the "Issuer"), and will be guaranteed on a senior secured basis by ICON and its existing and future wholly owned subsidiaries organized in the United States, Ireland and the Grand Duchy of Luxembourg ("Luxembourg") (the "Subsidiary Guarantors" and, collectively with ICON, the "Guarantors"), in each case that guarantee the obligations under our senior secured U.S. dollar denominated term loan facility and senior secured revolving credit facility (together, the "Senior Secured Credit Facilities") and the 2.875% senior secured notes due 2026 issued by PRA Health Sciences, Inc., a wholly owned subsidiary of ICON (the "Existing Notes"). The Notes will be senior secured obligations of the Issuer and the Guarantors and the Notes will rank equally in right of payment to all of the Issuer's and Guarantors' existing and future senior debt (including the Senior Secured Credit Facilities and the Existing Notes) and senior in right of payment to all of the Issuer's and Guarantors' existing and future subordinated debt.
The offering is expected to close on May 8, 2024, subject to the satisfaction of customary closing conditions.

Offerings

ICLR

ICON Announces Pricing Of $2B Notes

Guidance

Boston Properties Sees FY24 FFO $6.98-$7.10

Boston Properties Sees Q2 2024 FFO $1.70-$1.72 Vs $1.78 Est.

Kyle&nbsp;Loudermilk has submitted a letter of resignation to the Board of Directors and will remain with the company through&nbsp;May 31, 2024&nbsp;to assist in transition.

Management

GSE Solutions Names Ravi Khanna As President And CEO, Effective Immediately

Boston Props (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BXP#NYSE">BXP</a>) reported quarterly earnings of $1.73 per share which met the analyst consensus estimate. The company reported quarterly sales of $839.439 million which beat the analyst consensus estimate of $808.618 million by 3.81 percent. This is a 4.51 percent increase over sales of $803.200 million the same period last year.

Boston Props Q1 2024 FFO $1.73, Inline, Sales $839.439M Beat $808.618M Estimate

WBUY

Webuy Announces Pricing Up To 10M Share Offering At $0.29/Share

For the&nbsp;second quarter&nbsp;of 2024, Ryerson expects customer shipments to increase&nbsp;1%&nbsp;to&nbsp;3%, quarter-over-quarter. The Company&nbsp;expects adjusted EBITDA, excluding LIFO in the range of&nbsp;$47 million&nbsp;to&nbsp;$53 million.

Ryerson Anticipates Q2 Net Sales Of $1.25B-$1.29B (Est $1.222B), EPS Of $0.15-$0.25

Blue Ridge Bankshares (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/BRBS#AMEX">BRBS</a>) reported quarterly losses of $(0.15) per share. This is a 171.43 percent decrease over earnings of $0.21 per share from the same period last year.

BRBS

Blue Ridge Bankshares Q1 EPS $(0.15) Down From $0.21 YoY

MACK

Merrimack Pharmaceuticals To Voluntary Delist Common Stock On NASDAQ

<ul>
<li>an increase in FirstSun's total equity capital raised in connection with the merger of an additional $45 million to $60 million, resulting in an increase from an aggregate capital raise of $175 million to up to $235 million (as further discussed below);</li>
<li>a revised exchange ratio pursuant to which HomeStreet shareholders will receive 0.3867 shares (revised from 0.4345 shares under the original merger agreement) of FirstSun common stock for each share of HomeStreet common stock, which represents a value of $13.53 per share (based on the closing price per share of FirstSun shares on April 29, 2024);</li>
<li>a reduced termination fee payable by HomeStreet in certain circumstances if HomeStreet receives a competing acquisition proposal within 30 days after the effective date of the Amendment to $2,600,000, plus reimbursement of FirstSun's transaction fees and expenses;</li>
<li>that the combined company's ongoing banking operations will operate under a Texas state charter with FirstSun's subsidiary bank, Sunflower Bank, converting from a national bank to a Texas state chartered bank and that Sunflower Bank will also seek membership in the Federal Reserve System;</li>
<li>FirstSun's issuance of $48.5 million of subordinated debt concurrently with the closing, the proceeds of which will be contributed to Sunflower Bank to further support Sunflower Bank's capital; and</li>
<li>HomeStreet's disposition or sale of approximately $300 million (based on principal balance) of certain of its Commercial Real Estate loans, which disposition or loan sales will be consummated upon, or as soon as reasonably practicable, after the closing of the merger</li>
</ul>

FSUN

FirstSun Capital Bancorp And HomeStreet Amend Merger Agreement; Increase In Firstsun's Total Equity Capital Raised In Connection With Merger Of Additional $45M-60M; Revised Ratio Which HomeStreet Shareholders Receive 0.3867 Shares

Enstar Group Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ESGR#NASDAQ">ESGR</a>) has announced today that one of its wholly-owned subsidiaries has reached an agreement for a loss portfolio transfer with a subsidiary of SiriusPoint Ltd. ("SiriusPoint") to reinsure a $400 million portfolio of Workers' Compensation business covering underwriting years 2018 to 2023. &nbsp;
Under the reinsurance agreement, which will be entered into at closing, SiriusPoint will cede net reserves of approximately $400 million, and Enstar's subsidiary will provide approximately $200 million of cover in excess of the ceded reserves, with claims management transferring to Enstar.
The transaction, in which Guy Carpenter acted as the broker, will close upon receipt of regulatory approvals and satisfaction of other customary closing conditions.
Dominic Silvester, Enstar's Chief Executive Officer, said: "Our partnership with SiriusPoint aligns with our expertise and track record of outperformance in US Workers' Compensation and demonstrates our capabilities to structure and execute sophisticated risk solutions. For SiriusPoint, this bespoke transaction will help to support its long-term strategic, economic and operational goals."

ESGR

Enstar Agrees $400M Loss Portfolio Transfer With SiriusPoint

Horizon Tech Finance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRZN#NASDAQ">HRZN</a>) reported quarterly earnings of $0.38 per share which missed the analyst consensus estimate of $0.40 by 5 percent. This is a 17.39 percent decrease over earnings of $0.46 per share from the same period last year. The company reported quarterly sales of $26.129 million which missed the analyst consensus estimate of $26.596 million by 1.76 percent. This is a 6.81 percent decrease over sales of $28.037 million the same period last year.

HRZN

Horizon Tech Finance Q1 2024 GAAP EPS $0.38 Misses $0.40 Estimate, Sales $26.129M Miss $26.596M Estimate

DBRG

DigitalBridge Gr Q1 2024 EPS $0.01; Revenue $74.39M

Silver's Golden Outlook

Silver Is The Metal To Watch

What Gold Mining Companies Are Telling Their Investors

Bank of Montreal (BMO) Q1 2024 Earnings Call Transcript

A Macro Shift At Hand

TSLL, GDXU and EGPT among weekly ETF movers

Gold Miners Are Digging In (Despite Your Disinterest)

A Financially Deglobalized Era

JNUG, AGQ and TSLL among weekly ETF movers

Sentiment Speaks: Why Did Gold Go Boom?

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ZC SP ETN REDEEM 29/06/2040 USD - 3X Leveraged