BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Trading Up 7.9% – Here’s Why

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) traded up 7.9% during mid-day trading on Thursday . The company traded as high as $20.20 and last traded at $20.14. 1,430,785 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 1,802,014 shares. The stock had previously closed at $18.67.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Up 9.7 %

The firm has a market capitalization of $14.94 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03. The stock has a fifty day moving average of $22.26 and a 200-day moving average of $26.74.

Institutional Inflows and Outflows

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