BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Gap Down to $23.43

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) gapped down prior to trading on Tuesday . The stock had previously closed at $23.43, but opened at $22.84. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN shares last traded at $22.89, with a volume of 341,825 shares traded.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Price Performance

The company has a fifty day moving average of $25.17 and a 200-day moving average of $30.27. The firm has a market capitalization of $17.15 billion, a PE ratio of 37.73 and a beta of -5.03.

Institutional Investors Weigh In On BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

A hedge fund recently bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN stock. Whittier Trust Co. of Nevada Inc. acquired a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.