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 company 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 Price Performance

The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03. The firm’s fifty day moving average price is $37.72 and its 200-day moving average price is $53.48.

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

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the third quarter valued at about $75,000. Whittier Trust Co. of Nevada Inc. bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the first quarter valued at approximately $43,000. Finally, FNY Investment Advisers LLC acquired a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during 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.