BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Gap Down – Here’s What Happened

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) shares gapped down before the market opened on Friday . The stock had previously closed at $22.05, but opened at $21.29. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN shares last traded at $21.77, with a volume of 448,072 shares.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Stock Down 2.9 %

The stock has a 50 day moving average of $24.90 and a 200 day moving average of $28.99. The company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03.

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 position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 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.