BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) Shares Gap Up – Still a Buy?

BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU)’s share price gapped up before the market opened on Friday . The stock had previously closed at $576.40, but opened at $604.54. BMO REX MicroSectors FANG Index 3X Leveraged ETN shares last traded at $591.30, with a volume of 205,181 shares.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Trading Up 3.5 %

The company has a market capitalization of $435.18 billion, a price-to-earnings ratio of 123.65 and a beta of 4.82. The firm’s 50 day moving average price is $573.06 and its two-hundred day moving average price is $472.89.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in BMO REX MicroSectors FANG Index 3X Leveraged ETN stock. DRW Securities LLC acquired a new stake in BMO REX MicroSectors FANG Index 3X Leveraged ETN (NYSEARCA:FNGU) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 508 shares of the company’s stock, valued at approximately $226,000.

BMO REX MicroSectors FANG Index 3X Leveraged ETN Company Profile

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.