Short Interest in MicroSectors FANG+ ETN (NYSEARCA:FNGS) Drops By 36.9%

MicroSectors FANG+ ETN (NYSEARCA:FNGS) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 51,598 shares, a decline of 36.9% from the May 31st total of 81,768 shares. Based on an average daily volume of 40,788 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.7% of the shares of the stock are sold short.

MicroSectors FANG+ ETN Stock Performance

FNGS stock opened at $73.76 on Friday. The company’s 50 day moving average is $73.89 and its 200 day moving average is $67.99. The stock has a market cap of $553.20 million, a price-to-earnings ratio of 35.17 and a beta of 1.32. MicroSectors FANG+ ETN has a 1-year low of $56.70 and a 1-year high of $80.76.

Hedge Funds Weigh In On MicroSectors FANG+ ETN

An institutional investor recently bought a new stake in MicroSectors FANG+ ETN stock. Kingswood Wealth Advisors LLC acquired a new stake in shares of MicroSectors FANG+ ETN (NYSEARCA:FNGS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 3,183 shares of the company’s stock, valued at approximately $217,000.

MicroSectors FANG+ ETN Company Profile

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.