BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Trading Down 7.5%

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price was down 7.5% during mid-day trading on Thursday . The company traded as low as $21.63 and last traded at $21.75. Approximately 381,510 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 1,778,492 shares. The stock had previously closed at $23.52.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Up 1.2 %

The firm’s fifty day simple moving average is $25.25 and its 200 day simple moving average is $30.05. The company has a market cap of $15.63 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

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. purchased a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.