BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) Shares Gap Up – Still a Buy?

Shares of BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) gapped up before the market opened on Friday . The stock had previously closed at $619.00, but opened at $641.42. BMO REX MicroSectors FANG Index 3X Leveraged ETN shares last traded at $652.03, with a volume of 151,543 shares trading hands.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Trading Up 3.9 %

The stock has a 50 day simple moving average of $495.09 and a 200-day simple moving average of $438.76. The firm has a market cap of $469.04 billion, a PE ratio of 123.65 and a beta of 4.82.

Hedge Funds Weigh In On BMO REX MicroSectors FANG Index 3X Leveraged ETN

An institutional investor recently raised its position in BMO REX MicroSectors FANG Index 3X Leveraged ETN stock. VitalStone Financial LLC lifted its position in BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) by 62.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 822 shares of the company’s stock after purchasing an additional 317 shares during the quarter. VitalStone Financial LLC’s holdings in BMO REX MicroSectors FANG Index 3X Leveraged ETN were worth $337,000 at the end of the most recent reporting period.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Company Profile

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.