MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) Shares Scheduled to Reverse Split on Monday, February 9th

MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s stock is going to reverse split on the morning of Monday, February 9th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, February 8th.

MicroSectors FANG+ Index -3X Inverse Leveraged ETN Stock Up 2.3%

FNGD opened at $5.72 on Friday. The company has a market cap of $2.00 million, a P/E ratio of 20.31 and a beta of -3.38. The firm’s 50-day moving average price is $5.16 and its 200-day moving average price is $5.33. MicroSectors FANG+ Index -3X Inverse Leveraged ETN has a 52-week low of $4.14 and a 52-week high of $27.67.

Hedge Funds Weigh In On MicroSectors FANG+ Index -3X Inverse Leveraged ETN

An institutional investor recently bought a new position in MicroSectors FANG+ Index -3X Inverse Leveraged ETN stock. JPMorgan Chase & Co. purchased a new position in shares of MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,531 shares of the company’s stock, valued at approximately $54,000. JPMorgan Chase & Co. owned 3.01% of MicroSectors FANG+ Index -3X Inverse Leveraged ETN as of its most recent filing with the Securities and Exchange Commission.

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.