MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU) Stock Price Down 4.7% – What’s Next?

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN (NYSEARCA:OILU)’s share price dropped 4.7% during trading on Monday . The company traded as low as $35.24 and last traded at $35.24. Approximately 27,952 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 114,076 shares. The stock had previously closed at $36.96.

MicroSectors Oil & Gas Exp. & Prod. 3x Leveraged ETN Stock Performance

The business has a 50-day moving average price of $34.36 and a 200-day moving average price of $36.06.

Institutional Inflows and Outflows

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

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.