BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Stock Price Down 3.9% – Should You Sell?

Shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) were down 3.9% during mid-day trading on Friday . The company traded as low as $18.95 and last traded at $18.95. Approximately 458,215 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 1,786,806 shares. The stock had previously closed at $19.71.

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

The company’s 50-day simple moving average is $22.54 and its 200-day simple moving average is $27.25. The company has a market cap of $13.77 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03.

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. bought a new position in shares of 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 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.