BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) Stock Price Down 7.2% – Here’s What Happened

BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU)’s stock price dropped 7.2% on Friday . The stock traded as low as $550.03 and last traded at $558.75. Approximately 334,273 shares changed hands during trading, a decline of 47% from the average daily volume of 628,458 shares. The stock had previously closed at $602.00.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Stock Performance

The company’s 50-day moving average price is $565.65 and its 200 day moving average price is $469.76. The stock has a market capitalization of $408.38 billion, a P/E ratio of 123.65 and a beta of 4.82.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BMO REX MicroSectors FANG Index 3X Leveraged ETN stock. VitalStone Financial LLC increased its stake in shares of BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) by 62.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 822 shares of the company’s stock after acquiring an additional 317 shares during the quarter. VitalStone Financial LLC’s holdings in BMO REX MicroSectors FANG Index 3X Leveraged ETN were worth $337,000 at the end of the most recent quarter.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Company Profile

The MicroSectors FANG+ Index 3X Leveraged ETN (FNGU) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks 3x the daily price movements of an equal-weighted index of US-listed technology and consumer discretionary companies. FNGU was launched on Jan 22, 2018 and is issued by REX Microsectors.