MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Sees Large Volume Increase – Here’s Why

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) shares saw strong trading volume on Tuesday . 57,527 shares changed hands during trading, a decline of 49% from the previous session’s volume of 113,832 shares.The stock last traded at $26.89 and had previously closed at $28.17.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Stock Down 4.2 %

The firm’s 50-day simple moving average is $34.00 and its 200 day simple moving average is $35.39.

Hedge Funds Weigh In On MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

A hedge fund recently bought a new stake in MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN stock. Bogart Wealth LLC purchased a new position in shares of MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,500 shares of the company’s stock, valued at approximately $47,000.

About MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN

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.