MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) Sees Unusually-High Trading Volume – Should You Buy?

MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) saw unusually-high trading volume on Thursday . Approximately 485,340 shares traded hands during mid-day trading, an increase of 251% from the previous session’s volume of 138,265 shares.The stock last traded at $60.47 and had previously closed at $60.17.

MicroSectors FANG+ Index ETN Price Performance

The firm’s 50 day simple moving average is $58.49 and its two-hundred day simple moving average is $52.87. The firm has a market capitalization of $44.41 billion, a P/E ratio of 58.44 and a beta of 1.69.

Institutional Investors Weigh In On MicroSectors FANG+ Index ETN

A hedge fund recently bought a new stake in MicroSectors FANG+ Index ETN stock. Janney Montgomery Scott LLC bought a new position in MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 51,215 shares of the company’s stock, valued at approximately $2,938,000.

MicroSectors FANG+ Index ETN Company Profile

The MicroSectors FANG+ ETN (FNGS) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks an equally-weighted index of US-listed technology and consumer discretionary companies, selected by a committee. FNGS was launched on Nov 15, 2019 and is issued by REX Microsectors.