BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Trading Down 3.9%

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) traded down 3.9% on Friday . The stock traded as low as $30.64 and last traded at $30.66. 644,537 shares were traded during trading, a decline of 54% from the average session volume of 1,402,628 shares. The stock had previously closed at $31.90.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Down 4.9 %

The business has a 50 day simple moving average of $36.40 and a 200-day simple moving average of $48.77. The stock has a market capitalization of $22.13 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03.

Institutional Investors Weigh In On BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP purchased a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the 3rd quarter worth about $75,000. Whittier Trust Co. of Nevada Inc. acquired a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the first quarter valued at approximately $43,000. Finally, FNY Investment Advisers LLC purchased a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the fourth quarter worth approximately $2,187,000.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Company Profile

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.