BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Gap Down to $39.92

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $39.92, but opened at $38.55. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN shares last traded at $38.83, with a volume of 228,451 shares changing hands.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Stock Down 6.6 %

The business’s fifty day moving average is $37.90 and its 200-day moving average is $55.01. The stock has a market capitalization of $25.92 billion, a PE ratio of 50.89 and a beta of -4.88.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the third quarter worth $75,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the first quarter worth $43,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the fourth quarter worth $2,187,000.

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.