BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Trading 5.1% Higher – Should You Buy?

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price shot up 5.1% during trading on Tuesday . The company traded as high as $20.68 and last traded at $20.39. 915,939 shares were traded during mid-day trading, a decline of 49% from the average session volume of 1,781,435 shares. The stock had previously closed at $19.40.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Price Performance

The company has a fifty day moving average price of $23.22 and a 200 day moving average price of $27.86. The stock has a market cap of $14.73 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

A hedge fund recently bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN stock. Whittier Trust Co. of Nevada Inc. bought a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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.