BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Gap Down – Time to Sell?

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) gapped down before the market opened on Thursday . The stock had previously closed at $20.30, but opened at $19.54. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN shares last traded at $19.77, with a volume of 142,039 shares changing hands.

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

The stock has a 50 day moving average of $23.40 and a two-hundred day moving average of $27.91. The firm has a market capitalization of $14.29 billion, a P/E ratio of 37.73 and a beta of -5.03.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN stock. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.