BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Gap Up to $40.53

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $40.53, but opened at $44.32. BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN shares last traded at $42.15, with a volume of 582,432 shares traded.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Stock Performance

The stock has a market cap of $29.88 billion, a price-to-earnings ratio of 50.89 and a beta of -4.88. The stock’s 50-day simple moving average is $38.10 and its two-hundred day simple moving average is $57.16.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Avior Wealth Management LLC acquired a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the third quarter worth about $74,000. Quantbot Technologies LP bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the third quarter worth about $75,000. Finally, FNY Investment Advisers LLC bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN during the fourth quarter worth about $2,187,000.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Company Profile

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.