BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Down 7.5%

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s stock price dropped 7.5% during mid-day trading on Thursday . The company traded as low as $21.63 and last traded at $21.75. Approximately 381,510 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 1,778,492 shares. The stock had previously closed at $23.52.

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

The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03. The business has a 50 day simple moving average of $25.25 and a 200-day simple moving average of $30.23.

Institutional Inflows and Outflows

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. acquired a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 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.