BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Down 2.5%

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) shares traded down 2.5% during mid-day trading on Monday . The company traded as low as $36.18 and last traded at $36.64. 391,530 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 1,304,742 shares. The stock had previously closed at $37.57.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Stock Down 2.8 %

The stock has a fifty day moving average of $38.09 and a 200-day moving average of $56.30. The stock has a market capitalization of $26.64 billion, a price-to-earnings ratio of 50.89 and a beta of -4.88.

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

A hedge fund recently bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN stock. FNY Investment Advisers LLC acquired a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 375,270 shares of the company’s stock, valued at approximately $2,187,000. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN accounts for approximately 2.5% of FNY Investment Advisers LLC’s portfolio, making the stock its 10th biggest holding. FNY Investment Advisers LLC owned about 20.85% of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN at the end of the most recent reporting period.

About BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

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.