Short Interest in MicroSectors FANG+ 3X Leveraged ETN (NYSEARCA:FNGU) Declines By 50.2%

MicroSectors FANG+ 3X Leveraged ETN (NYSEARCA:FNGU) was the target of a significant decrease in short interest in the month of May. As of May 15th, there was short interest totaling 4,024,058 shares, a decrease of 50.2% from the April 30th total of 8,076,228 shares. Currently, 5.0% of the company’s stock are sold short. Based on an average daily volume of 6,672,832 shares, the days-to-cover ratio is presently 0.6 days.

MicroSectors FANG+ 3X Leveraged ETN Stock Performance

Shares of FNGU stock traded up $1.39 on Monday, hitting $36.15. The stock had a trading volume of 7,642,001 shares, compared to its average volume of 6,530,769. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 37.17 and a beta of 5.66. The stock’s 50 day moving average is $23.92 and its 200-day moving average is $23.74. MicroSectors FANG+ 3X Leveraged ETN has a 52-week low of $13.48 and a 52-week high of $36.78.

About MicroSectors FANG+ 3X Leveraged ETN

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.