MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) Trading Down 0.7%

MicroSectors FANG+ Index ETN (NYSEARCA:FNGS)’s stock price dropped 0.7% during mid-day trading on Wednesday . The stock traded as low as $43.56 and last traded at $43.86. Approximately 77,366 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 178,704 shares. The stock had previously closed at $44.18.

MicroSectors FANG+ Index ETN Stock Down 0.7 %

The business has a 50 day moving average of $42.86 and a 200 day moving average of $39.37. The firm has a market cap of $31.98 billion, a price-to-earnings ratio of 58.44 and a beta of 1.69.

Hedge Funds Weigh In On MicroSectors FANG+ Index ETN

A hedge fund recently bought a new stake in MicroSectors FANG+ Index ETN stock. Janney Montgomery Scott LLC acquired a new position in shares of MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 27,836 shares of the company’s stock, valued at approximately $1,051,000. Janney Montgomery Scott LLC owned about 1.16% of MicroSectors FANG+ Index ETN as of its most recent SEC filing.

About MicroSectors FANG+ Index ETN

The MicroSectors FANG+ ETN (FNGS) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks an equally-weighted index of US-listed technology and consumer discretionary companies, selected by a committee. FNGS was launched on Nov 15, 2019 and is issued by REX Microsectors.