BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Stock Price Down 4.5% – Here’s Why

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) was down 4.5% during mid-day trading on Friday . The stock traded as low as $19.42 and last traded at $19.42. Approximately 484,219 shares changed hands during trading, a decline of 73% from the average daily volume of 1,803,907 shares. The stock had previously closed at $20.33.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Down 4.1 %

The business’s 50 day moving average price is $22.26 and its 200-day moving average price is $26.74. The company has a market cap of $14.22 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 stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm 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.