MicroSectors FANG+ ETN (NYSEARCA:FNGS) Sees Significant Decline in Short Interest

MicroSectors FANG+ ETN (NYSEARCA:FNGS) was the target of a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 45,575 shares, a drop of 42.8% from the January 15th total of 79,725 shares. Based on an average daily volume of 69,625 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.6% of the company’s shares are short sold. Approximately 0.6% of the company’s shares are short sold. Based on an average daily volume of 69,625 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in MicroSectors FANG+ ETN stock. Kingswood Wealth Advisors LLC acquired a new position in shares of MicroSectors FANG+ ETN (NYSEARCA:FNGS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,183 shares of the company’s stock, valued at approximately $217,000.

MicroSectors FANG+ ETN Stock Performance

NYSEARCA FNGS traded up $0.05 during trading hours on Friday, hitting $61.26. 62,383 shares of the company’s stock were exchanged, compared to its average volume of 77,519. The business’s 50 day moving average is $67.08 and its 200-day moving average is $68.48. MicroSectors FANG+ ETN has a 12-month low of $42.50 and a 12-month high of $74.43. The firm has a market capitalization of $459.45 million, a P/E ratio of 35.17 and a beta of 1.18.

MicroSectors FANG+ ETN Company Profile

The MicroSectors FANG+ ETN (FNGS) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks an equally-weighted index of US-listed technology and consumer discretionary companies, selected by a committee. FNGS was launched on Nov 15, 2019 and is issued by REX Microsectors.