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

Shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) dropped 4.3% during mid-day trading on Thursday . The stock traded as low as $25.41 and last traded at $25.58. Approximately 2,718,007 shares traded hands during trading, an increase of 62% from the average daily volume of 1,677,051 shares. The stock had previously closed at $26.73.

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

The stock’s fifty day moving average is $26.22 and its two-hundred day moving average is $35.97. The stock has a market capitalization of $19.82 billion, a P/E 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. bought a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 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.