MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Trading Down 1.4% – Time to Sell?

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU)’s stock price traded down 1.4% during mid-day trading on Wednesday . The stock traded as low as $22.45 and last traded at $22.53. 50,406 shares changed hands during trading, a decline of 75% from the average session volume of 199,921 shares. The stock had previously closed at $22.86.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Trading Down 1.4%

The stock has a market cap of $33.80 million, a P/E ratio of 8.27 and a beta of 1.84. The business has a 50-day simple moving average of $23.33 and a 200 day simple moving average of $23.09.

Institutional Trading of MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

An institutional investor recently bought a new position in MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN stock. Bogart Wealth LLC purchased a new position in MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the company’s stock, valued at approximately $43,000. Bogart Wealth LLC owned 0.13% of MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN as of its most recent filing with the Securities and Exchange Commission.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Company Profile

The MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (OILU) is an exchange-traded fund that mostly invests in energy equity. The fund provides 3x daily leveraged exposure to a tier-weighted index of US firms involved in oil and gas exploration and production. OILU was launched on Nov 12, 2021 and is issued by REX Microsectors.