MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) Short Interest Down 19.4% in February
by Michael Walen · The Markets DailyMicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD – Get Free Report) saw a large decrease in short interest during the month of February. As of February 27th, there was short interest totaling 213,712 shares, a decrease of 19.4% from the February 12th total of 265,241 shares. Based on an average trading volume of 344,959 shares, the days-to-cover ratio is presently 0.6 days. Currently, 534.3% of the company’s shares are short sold. Currently, 534.3% of the company’s shares are short sold. Based on an average trading volume of 344,959 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in MicroSectors FANG+ Index -3X Inverse Leveraged ETN stock. Flow Traders U.S. LLC acquired a new position in MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 57,984 shares of the company’s stock, valued at approximately $297,000. Flow Traders U.S. LLC owned approximately 16.57% of MicroSectors FANG+ Index -3X Inverse Leveraged ETN as of its most recent SEC filing.
MicroSectors FANG+ Index -3X Inverse Leveraged ETN Price Performance
Shares of FNGD stock opened at $64.86 on Friday. MicroSectors FANG+ Index -3X Inverse Leveraged ETN has a 1-year low of $41.40 and a 1-year high of $276.69. The firm’s 50-day simple moving average is $61.25 and its 200-day simple moving average is $53.96. The firm has a market cap of $2.59 million, a P/E ratio of 20.31 and a beta of -3.38.
About 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.