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) shares gapped up before the market opened 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 changing hands.

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

The stock has a market capitalization of $29.88 billion, a P/E ratio of 50.89 and a beta of -4.88. The firm has a 50 day moving average of $38.10 and a 200-day moving average of $57.16.

Institutional Investors Weigh In On BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

A number of institutional investors have recently added to or reduced their stakes in the stock. Avior Wealth Management LLC acquired a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 3rd quarter worth approximately $74,000. Quantbot Technologies LP bought a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 3rd quarter worth approximately $75,000. Finally, FNY Investment Advisers LLC bought a new position in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN in the 4th quarter worth approximately $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.