BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Trading Up 3.6% – Here’s Why

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) traded up 3.6% on Wednesday . The company traded as high as $19.73 and last traded at $19.61. 448,064 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 1,780,345 shares. The stock had previously closed at $18.92.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Up 6.3 %

The company’s 50-day moving average price is $22.73 and its two-hundred day moving average price is $27.36. The company has a market cap of $14.67 billion, a P/E ratio of 37.73 and a beta of -5.03.

Institutional Trading of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

An institutional investor recently bought a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,165 shares of the company’s stock, valued at approximately $43,000.

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.