BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Stock Price Up 5.1% – Still a Buy?

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) shot up 5.1% on Tuesday . The company traded as high as $20.68 and last traded at $20.39. 915,939 shares traded hands during trading, a decline of 49% from the average session volume of 1,781,435 shares. The stock had previously closed at $19.40.

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

The firm’s 50-day moving average price is $23.87 and its two-hundred day moving average price is $28.08. The stock has a market cap of $14.78 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03.

Institutional Trading of 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 stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,165 shares of the company’s stock, valued at approximately $43,000.

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.