BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Sees Unusually-High Trading Volume

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) saw unusually-strong trading volume on Monday . Approximately 637,047 shares traded hands during mid-day trading, a decline of 61% from the previous session’s volume of 1,638,661 shares.The stock last traded at $22.98 and had previously closed at $24.64.

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

The stock has a market capitalization of $19.49 billion, a price-to-earnings ratio of 37.73 and a beta of -5.03. The stock’s 50 day simple moving average is $26.22 and its 200-day simple moving average is $35.97.

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. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,165 shares of the company’s stock, valued at approximately $43,000.

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.