Short Interest in MicroSectors FANG+ 3X Leveraged ETN (NYSEARCA:FNGU) Declines By 33.6%

MicroSectors FANG+ 3X Leveraged ETN (NYSEARCA:FNGU) saw a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 7,959,503 shares, a decline of 33.6% from the February 26th total of 11,982,222 shares. Based on an average trading volume of 7,388,661 shares, the days-to-cover ratio is presently 1.1 days. Currently, 199.0% of the shares of the stock are sold short.

MicroSectors FANG+ 3X Leveraged ETN Stock Down 6.7%

Shares of FNGU traded down $1.04 during trading hours on Friday, reaching $14.39. 7,184,474 shares of the company traded hands, compared to its average volume of 6,287,200. The stock has a market capitalization of $57.56 million, a PE ratio of 37.17 and a beta of 4.68. MicroSectors FANG+ 3X Leveraged ETN has a fifty-two week low of $7.95 and a fifty-two week high of $34.14. The stock has a fifty day simple moving average of $19.58 and a 200 day simple moving average of $25.33.

About MicroSectors FANG+ 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.