Short Interest in MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) Declines By 44.8%

MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 117,988 shares, a decline of 44.8% from the February 26th total of 213,712 shares. Approximately 295.0% of the company’s stock are short sold. Based on an average trading volume of 610,852 shares, the days-to-cover ratio is currently 0.2 days.

MicroSectors FANG+ Index -3X Inverse Leveraged ETN Stock Up 9.2%

NYSEARCA:FNGD opened at $77.04 on Friday. The stock has a market capitalization of $3.08 million, a price-to-earnings ratio of 20.31 and a beta of -3.38. MicroSectors FANG+ Index -3X Inverse Leveraged ETN has a 52 week low of $41.40 and a 52 week high of $276.69. The firm has a 50 day moving average of $63.94 and a 200 day moving average of $54.59.

Institutional Trading of MicroSectors FANG+ Index -3X Inverse Leveraged ETN

An institutional investor recently bought a new position in MicroSectors FANG+ Index -3X Inverse Leveraged ETN stock. JPMorgan Chase & Co. acquired a new stake in shares of MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 10,531 shares of the company’s stock, valued at approximately $54,000. JPMorgan Chase & Co. owned about 3.01% of MicroSectors FANG+ Index -3X Inverse Leveraged ETN at the end of the most recent quarter.

About 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.