BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Down 4.3%

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price was down 4.3% during mid-day trading on Wednesday . The company traded as low as $24.80 and last traded at $24.81. Approximately 488,773 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 1,487,173 shares. The stock had previously closed at $25.92.

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

The firm has a market cap of $17.98 billion, a P/E ratio of 37.73 and a beta of -5.03. The firm’s 50-day moving average price is $32.60 and its 200 day moving average price is $41.43.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN stock. FNY Investment Advisers LLC acquired a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 375,270 shares of the company’s stock, valued at approximately $2,187,000. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN comprises 2.5% of FNY Investment Advisers LLC’s investment portfolio, making the stock its 10th biggest position. FNY Investment Advisers LLC owned 20.85% of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN at the end of the most recent reporting period.

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.