BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Gap Down to $31.25

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $31.25, but opened at $29.60. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN shares last traded at $31.10, with a volume of 664,144 shares traded.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Stock Down 4.6 %

The firm has a market cap of $22.19 billion, a PE ratio of 37.73 and a beta of -5.03. The business has a 50-day moving average price of $36.20 and a two-hundred day moving average price of $48.39.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. acquired a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the first quarter valued at $43,000. Quantbot Technologies LP purchased a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 3rd quarter valued at about $75,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the 4th quarter worth about $2,187,000.

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.