BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Sees Strong Trading Volume – Should You Buy?

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) saw unusually-high trading volume on Thursday . Approximately 1,648,298 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 1,780,881 shares.The stock last traded at $19.86 and had previously closed at $19.98.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Up 0.2 %

The stock has a market capitalization of $14.25 billion, a PE ratio of 37.73 and a beta of -5.03. The firm has a 50-day moving average price of $24.13 and a 200-day moving average price of $28.31.

Institutional Investors Weigh In On 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. purchased a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 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.