BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) Shares Gap Down – Should You Sell?

BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $628.41, but opened at $595.30. BMO REX MicroSectors FANG Index 3X Leveraged ETN shares last traded at $592.05, with a volume of 205,048 shares changing hands.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Price Performance

The company has a market cap of $425.58 billion, a P/E ratio of 123.65 and a beta of 4.82. The company’s 50-day moving average is $541.01 and its two-hundred day moving average is $460.72.

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

A hedge fund recently bought a new stake in BMO REX MicroSectors FANG Index 3X Leveraged ETN stock. DRW Securities LLC bought a new position in BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 508 shares of the company’s stock, valued at approximately $226,000.

About BMO REX MicroSectors FANG Index 3X Leveraged ETN

The MicroSectors FANG+ Index 3X Leveraged ETN (FNGU) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks 3x the daily price movements of an equal-weighted index of US-listed technology and consumer discretionary companies. FNGU was launched on Jan 22, 2018 and is issued by REX Microsectors.