Short Interest in MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) Declines By 44.8%

MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) was the recipient of a large decline in short interest in March. As of March 13th, there was short interest totaling 117,988 shares, a decline of 44.8% from the February 26th total of 213,712 shares. Currently, 295.0% of the company’s stock are short sold. Based on an average trading volume of 610,852 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On MicroSectors FANG+ Index -3X Inverse Leveraged ETN

A hedge fund recently bought a new stake in MicroSectors FANG+ Index -3X Inverse Leveraged ETN stock. JPMorgan Chase & Co. purchased a new stake in MicroSectors FANG+ Index -3X Inverse Leveraged ETN (NYSEARCA:FNGD) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,531 shares of the company’s stock, valued at approximately $54,000. JPMorgan Chase & Co. owned approximately 3.01% of MicroSectors FANG+ Index -3X Inverse Leveraged ETN as of its most recent filing with the SEC.

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

Shares of NYSEARCA FNGD opened at $77.04 on Friday. The stock has a market capitalization of $3.08 million, a P/E ratio of 20.31 and a beta of -3.38. MicroSectors FANG+ Index -3X Inverse Leveraged ETN has a 1-year low of $41.40 and a 1-year high of $276.69. The business has a fifty day moving average price of $63.94 and a 200 day moving average price of $54.59.

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.