ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (NYSEARCA:MTUL) Shares Down 1.1% – Here’s Why

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (NYSEARCA:MTUL) fell 1.1% during mid-day trading on Wednesday . The company traded as low as $31.57 and last traded at $31.57. 3,600 shares changed hands during trading, an increase of 526% from the average session volume of 575 shares. The stock had previously closed at $31.90.

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN Stock Down 1.1 %

The company has a 50 day moving average of $30.05 and a 200 day moving average of $27.85.

ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN Company Profile

The ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) is an exchange-traded fund that is based on the MSCI USA Momentum index. The fund provides 2x leveraged exposure to an index of US large- and mid-cap securities selected and weighted based on momentum. MTUL was launched on Feb 5, 2021 and is issued by ETRACS.