MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Trading Down 5.8% – Should You Sell?

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU)’s share price traded down 5.8% during mid-day trading on Wednesday . The company traded as low as $30.45 and last traded at $30.04. 105,260 shares were traded during trading, a decline of 33% from the average session volume of 156,428 shares. The stock had previously closed at $31.89.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Stock Down 7.7 %

The stock’s fifty day simple moving average is $30.24 and its 200-day simple moving average is $32.71.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN stock. Bogart Wealth LLC bought a new stake in shares of MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,500 shares of the company’s stock, valued at approximately $47,000.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Company Profile

The MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (OILU) is an exchange-traded fund that mostly invests in energy equity. The fund provides 3x daily leveraged exposure to a tier-weighted index of US firms involved in oil and gas exploration and production. OILU was launched on Nov 12, 2021 and is issued by REX Microsectors.