MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Stock Price Up 4.9% – Still a Buy?

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU)’s share price traded up 4.9% during mid-day trading on Wednesday . The stock traded as high as $32.90 and last traded at $32.90. 12,811 shares changed hands during trading, a decline of 92% from the average session volume of 153,614 shares. The stock had previously closed at $31.36.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Trading Up 4.6 %

The company’s 50 day moving average is $30.03 and its 200-day moving average is $32.43.

Institutional Investors Weigh In On MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

An institutional investor recently bought a new position in MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN stock. Bogart Wealth LLC bought a new position in MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,500 shares of the company’s stock, valued at approximately $47,000.

About MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

The MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (OILU) is an exchange-traded fund that mostly invests in energy equity. The fund provides 3x daily leveraged exposure to a tier-weighted index of US firms involved in oil and gas exploration and production. OILU was launched on Nov 12, 2021 and is issued by REX Microsectors.