BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) Trading Down 3.4% – Time to Sell?

Shares of BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) fell 3.4% during trading on Wednesday . The stock traded as low as $496.81 and last traded at $498.11. 113,656 shares were traded during mid-day trading, a decline of 89% from the average session volume of 1,004,935 shares. The stock had previously closed at $515.40.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Price Performance

The stock has a market cap of $360.43 billion, a P/E ratio of 123.65 and a beta of 4.82. The stock’s 50-day moving average is $456.25 and its two-hundred day moving average is $420.82.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BMO REX MicroSectors FANG Index 3X Leveraged ETN stock. VitalStone Financial LLC boosted its position in shares of BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) by 245.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 505 shares of the company’s stock after buying an additional 359 shares during the period. VitalStone Financial LLC’s holdings in BMO REX MicroSectors FANG Index 3X Leveraged ETN were worth $225,000 as of its most recent SEC filing.

About BMO REX MicroSectors FANG Index 3X Leveraged ETN

The MicroSectors FANG+ Index 3X Leveraged ETN (FNGU) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks 3x the daily price movements of an equal-weighted index of US-listed technology and consumer discretionary companies. FNGU was launched on Jan 22, 2018 and is issued by REX Microsectors.