BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) Shares Gap Down – Here’s Why

BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) shares gapped down prior to trading on Monday . The stock had previously closed at $672.80, but opened at $580.27. BMO REX MicroSectors FANG Index 3X Leveraged ETN shares last traded at $620.18, with a volume of 366,932 shares traded.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Price Performance

The firm has a 50-day simple moving average of $593.33 and a 200 day simple moving average of $478.71. The stock has a market capitalization of $481.98 billion, a P/E ratio of 123.65 and a beta of 4.82.

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

A hedge fund recently raised its stake in BMO REX MicroSectors FANG Index 3X Leveraged ETN stock. VitalStone Financial LLC raised its position in shares of BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) by 62.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 822 shares of the company’s stock after purchasing an additional 317 shares during the quarter. VitalStone Financial LLC’s holdings in BMO REX MicroSectors FANG Index 3X Leveraged ETN were worth $337,000 at the end of the most recent quarter.

About BMO REX MicroSectors FANG Index 3X Leveraged ETN

The MicroSectors FANG+ Index 3X Leveraged ETN (FNGU) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks 3x the daily price movements of an equal-weighted index of US-listed technology and consumer discretionary companies. FNGU was launched on Jan 22, 2018 and is issued by REX Microsectors.