MicroSectors FANG+ ETN (NYSEARCA:FNGS) Trading 1.1% Higher – Time to Buy?

MicroSectors FANG+ ETN (NYSEARCA:FNGS) rose 1.1% during mid-day trading on Tuesday . The stock traded as high as $66.90 and last traded at $66.80. Approximately 71,377 shares were traded during mid-day trading, a decline of 54% from the average daily volume of 155,566 shares. The stock had previously closed at $66.10.

MicroSectors FANG+ ETN Trading Up 1.1%

The company’s 50-day simple moving average is $64.09 and its 200-day simple moving average is $58.01. The stock has a market capitalization of $267.20 million, a price-to-earnings ratio of 35.17 and a beta of 1.18.

Hedge Funds Weigh In On MicroSectors FANG+ ETN

An institutional investor recently raised its position in MicroSectors FANG+ ETN stock. Marshall Wace LLP grew its position in MicroSectors FANG+ ETN (NYSEARCA:FNGS) by 115.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,029 shares of the company’s stock after purchasing an additional 11,275 shares during the quarter. Marshall Wace LLP’s holdings in MicroSectors FANG+ ETN were worth $1,206,000 as of its most recent filing with the SEC.

MicroSectors FANG+ ETN Company Profile

The MicroSectors FANG+ ETN (FNGS) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks an equally-weighted index of US-listed technology and consumer discretionary companies, selected by a committee. FNGS was launched on Nov 15, 2019 and is issued by REX Microsectors.