BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Gap Down to $41.13

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $41.13, but opened at $39.15. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN shares last traded at $39.60, with a volume of 294,474 shares changing hands.

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

The stock has a 50-day moving average price of $38.10 and a 200-day moving average price of $57.16. The firm has a market capitalization of $29.96 billion, a PE ratio of 50.89 and a beta of -4.88.

Institutional Investors Weigh In On BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

Several hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 4th quarter worth about $2,187,000. Quantbot Technologies LP acquired a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the third quarter worth about $75,000. Finally, Avior Wealth Management LLC bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the third quarter valued at about $74,000.

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.