BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Down 4.5%

Shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) dropped 4.5% during trading on Tuesday . The stock traded as low as $42.01 and last traded at $42.14. Approximately 317,703 shares changed hands during trading, a decline of 76% from the average daily volume of 1,302,574 shares. The stock had previously closed at $44.13.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Stock Down 5.6 %

The business has a 50-day moving average price of $38.08 and a 200-day moving average price of $57.61. The firm has a market capitalization of $30.37 billion, a PE ratio of 50.89 and a beta of -4.88.

Hedge Funds Weigh In On BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

Several large investors have recently bought and sold shares of FNGD. FNY Investment Advisers LLC purchased a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the fourth quarter valued at about $2,187,000. Quantbot Technologies LP acquired a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 3rd quarter valued at $75,000. Finally, Avior Wealth Management LLC purchased a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the 3rd quarter valued at about $74,000.

About BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

The MicroSectors FANG+ Index -3X Inverse Leveraged ETN (FNGD) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks -3x the daily price movements of an index of technology and consumer discretionary companies. The note uses derivatives to achieve its -3x exposure. FNGD was launched on Jan 25, 2018 and is issued by REX Microsectors.