BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) Reaches New 1-Year Low – What’s Next?

BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) reached a new 52-week low on Wednesday . The company traded as low as $21.83 and last traded at $22.12, with a volume of 4665080 shares trading hands. The stock had previously closed at $499.17.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Stock Up 4.3%

The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 37.17 and a beta of 3.80. The company’s 50-day moving average is $390.84 and its 200-day moving average is $481.63.

Hedge Funds Weigh In On BMO REX MicroSectors FANG Index 3X Leveraged ETN

A hedge fund recently raised its stake in BMO REX MicroSectors FANG Index 3X Leveraged ETN stock. FNY Investment Advisers LLC increased its position in shares of BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) by 1,809.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,035 shares of the company’s stock after purchasing an additional 5,719 shares during the quarter. BMO REX MicroSectors FANG Index 3X Leveraged ETN makes up approximately 1.9% of FNY Investment Advisers LLC’s holdings, making the stock its 7th biggest holding. FNY Investment Advisers LLC’s holdings in BMO REX MicroSectors FANG Index 3X Leveraged ETN were worth $3,159,000 at the end of the most recent reporting period.

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.