BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Trading Up 3.6% – Should You Buy?

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s stock price was up 3.6% during trading on Wednesday . The company traded as high as $19.73 and last traded at $19.61. Approximately 448,064 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 1,780,345 shares. The stock had previously closed at $18.92.

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

The stock has a market capitalization of $14.37 billion, a P/E ratio of 37.73 and a beta of -5.03. The company’s 50 day simple moving average is $22.54 and its two-hundred day simple moving average is $27.25.

Hedge Funds Weigh In On BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

An institutional investor recently bought a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN stock. Whittier Trust Co. of Nevada Inc. purchased a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. 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.