BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Down 4%

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) was down 4% on Monday . The stock traded as low as $34.11 and last traded at $34.13. Approximately 949,802 shares changed hands during trading, a decline of 28% from the average daily volume of 1,322,816 shares. The stock had previously closed at $35.55.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Down 5.8 %

The stock has a market capitalization of $24.43 billion, a price-to-earnings ratio of 50.89 and a beta of -4.88. The business has a 50 day simple moving average of $37.90 and a 200-day simple moving average of $54.50.

Hedge Funds Weigh In On BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP purchased a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the third quarter valued at about $75,000. FNY Investment Advisers LLC acquired a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 4th quarter valued at about $2,187,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the 1st quarter worth about $43,000.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Company Profile

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.