BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Trading Down 4.5%

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price traded down 4.5% on Tuesday . The company traded as low as $42.01 and last traded at $42.14. 317,703 shares traded hands during trading, a decline of 76% from the average session volume of 1,302,574 shares. The stock had previously closed at $44.13.

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

The business has a 50-day simple moving average of $38.07 and a two-hundred day simple moving average of $57.28. The company has a market capitalization of $29.45 billion, a price-to-earnings ratio of 50.89 and a beta of -4.88.

Institutional Trading of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

A number of hedge funds have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 3rd quarter valued at approximately $74,000. Quantbot Technologies LP acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 3rd quarter valued at approximately $75,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 4th quarter valued at approximately $2,187,000.

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.