BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Down 3.9% – What’s Next?

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price dropped 3.9% during mid-day trading on Friday . The stock traded as low as $18.95 and last traded at $18.95. Approximately 458,215 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 1,786,806 shares. The stock had previously closed at $19.71.

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

The company has a fifty day simple moving average of $22.46 and a 200-day simple moving average of $27.08. The company has a market cap of $14.17 billion, a P/E ratio of 37.73 and a beta of -5.03.

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

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