BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) Hits New 12-Month Low – Time to Sell?

Shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $18.61 and last traded at $18.62, with a volume of 912844 shares trading hands. The stock had previously closed at $19.39.

BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN Trading Down 5.1 %

The stock has a market cap of $13.43 billion, a PE ratio of 37.73 and a beta of -5.03. The company has a fifty day moving average of $22.40 and a 200-day moving average of $26.91.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN stock. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN (NYSEARCA:FNGD) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,165 shares of the company’s stock, valued at approximately $43,000.

About BMO REX MicroSectors FANG Index 3X Inverse Leveraged ETN

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.