BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Trading 7.9% Higher – Here’s Why

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price was up 7.9% on Thursday . The stock traded as high as $20.20 and last traded at $20.14. Approximately 1,430,785 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 1,802,014 shares. The stock had previously closed at $18.67.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Stock Up 9.7 %

The company has a fifty day simple moving average of $22.26 and a two-hundred day simple moving average of $26.74. The company has a market cap of $14.94 billion, a price-to-earnings 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. bought a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,165 shares of the company’s stock, valued at approximately $43,000.

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.