MicroSectors FANG+ ETN (NYSEARCA:FNGS) Shares Down 2% – Here’s Why

MicroSectors FANG+ ETN (NYSEARCA:FNGS) traded down 2% during trading on Thursday . The company traded as low as $72.27 and last traded at $72.79. 27,126 shares were traded during trading, a decline of 43% from the average session volume of 47,899 shares. The stock had previously closed at $74.25.

MicroSectors FANG+ ETN Stock Down 2.0%

The firm has a market capitalization of $545.92 million, a PE ratio of 35.17 and a beta of 1.32. The firm’s 50 day moving average price is $74.65 and its two-hundred day moving average price is $68.62.

Hedge Funds Weigh In On MicroSectors FANG+ ETN

A hedge fund recently bought a new stake in MicroSectors FANG+ ETN stock. Kingswood Wealth Advisors LLC purchased a new stake in MicroSectors FANG+ ETN (NYSEARCA:FNGS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,183 shares of the company’s stock, valued at approximately $217,000.

About MicroSectors FANG+ ETN

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.