MicroSectors FANG+ 3X Leveraged ETN (NYSEARCA:FNGU) Stock Price Down 1.7% – Here’s Why

MicroSectors FANG+ 3X Leveraged ETN (NYSEARCA:FNGU) shares fell 1.7% on Friday . The company traded as low as $28.61 and last traded at $28.91. 4,192,851 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 4,846,333 shares. The stock had previously closed at $29.42.

MicroSectors FANG+ 3X Leveraged ETN Trading Down 1.7%

The firm has a 50 day moving average of $26.95 and a two-hundred day moving average of $206.03. The stock has a market capitalization of $115.64 million, a PE ratio of 37.17 and a beta of 3.80.

Institutional Inflows and Outflows

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

About MicroSectors FANG+ 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.