MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) Sees Large Decrease in Short Interest

MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) saw a significant decline in short interest in October. As of October 15th, there was short interest totaling 122,686 shares, a decline of 42.2% from the September 30th total of 212,353 shares. Based on an average daily volume of 327,054 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.8% of the company’s stock are sold short.

MicroSectors FANG+ Index -3X Inverse Leveraged ETN Price Performance

FNGD stock traded down $0.31 during midday trading on Tuesday, hitting $32.15. The stock had a trading volume of 192,323 shares, compared to its average volume of 948,510. The firm has a market cap of $482.24 million, a price-to-earnings ratio of 20.31 and a beta of -3.73. The business has a 50-day moving average of $25.99 and a two-hundred day moving average of $42.24. MicroSectors FANG+ Index -3X Inverse Leveraged ETN has a 52-week low of $22.52 and a 52-week high of $87.38.

MicroSectors FANG+ Index -3X Inverse Leveraged ETN Company Profile

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.