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

MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD)’s stock is scheduled to reverse split on 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 Performance

NYSEARCA:FNGD opened at $5.72 on Friday. The stock has a fifty day moving average of $5.16 and a 200 day moving average of $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. The firm has a market capitalization of $2.00 million, a price-to-earnings ratio of 20.31 and a beta of -3.38.

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) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,531 shares of the company’s stock, valued at approximately $54,000. JPMorgan Chase & Co. owned about 3.01% of MicroSectors FANG+ Index -3X Inverse Leveraged ETN at the end of the most recent reporting period.

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.