BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Gap Down to $41.13

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $41.13, but opened at $39.15. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN shares last traded at $39.60, with a volume of 294,474 shares traded.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Stock Down 2.0 %

The firm has a market cap of $29.39 billion, a price-to-earnings ratio of 50.89 and a beta of -4.88. The company has a 50-day moving average price of $38.07 and a 200 day moving average price of $57.28.

Institutional Trading of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

A number of institutional investors have recently bought and sold shares of FNGD. FNY Investment Advisers LLC bought a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the fourth quarter valued at about $2,187,000. Quantbot Technologies LP bought a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the third quarter worth about $75,000. Finally, Avior Wealth Management LLC bought a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the third quarter worth about $74,000.

About BMO REX 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.