BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Stock Price Down 4.5% – Here’s Why

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) dropped 4.5% during trading on Friday . The stock traded as low as $19.42 and last traded at $19.42. Approximately 484,219 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 1,803,907 shares. The stock had previously closed at $20.33.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Down 4.1 %

The firm has a fifty day moving average of $22.26 and a 200 day moving average of $26.74. The company has a market capitalization of $14.22 billion, a P/E ratio of 37.73 and a beta of -5.03.

Institutional Investors 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. acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 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.