BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Stock Price Down 3.9% – Here’s Why

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

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Down 1.4 %

The firm has a 50-day moving average of $22.46 and a two-hundred day moving average of $27.08. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03.

Hedge Funds 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 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,165 shares of the company’s stock, valued at approximately $43,000.

About BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

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.