ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (NYSEARCA:MTUL) Shares Down 5.6% – Here’s Why

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (NYSEARCA:MTULGet Free Report)’s stock price was down 5.6% on Thursday . The stock traded as low as $52.00 and last traded at $53.98. Approximately 2,340 shares traded hands during mid-day trading, an increase of 308% from the average daily volume of 574 shares. The stock had previously closed at $57.18.

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN Stock Down 5.6%

The firm’s fifty day moving average is $40.86 and its two-hundred day moving average is $39.10.

About ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN

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The ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) is an exchange-traded fund that is based on the MSCI USA Momentum index. The fund provides 2x leveraged exposure to an index of US large- and mid-cap securities selected and weighted based on momentum. MTUL was launched on Feb 5, 2021 and is issued by ETRACS.

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