FNGD Stock Summary and Trading Ideas (Microsectors Fang Index 3X Inverse Leveraged ETN | ARCA:FNGD)

The BMO REX MicroSectors FANG+ Index -3X Inverse Leveraged ETN is linked to the performance of the NYSE FANG+ Index. The ETN offers investors the total return of the NYSE FANG+ Index on a daily compounded -3x inverse leveraged basis, before taking into account fees. The NYSE FANG+ index includes 10 highly liquid stocks that represent a segment of the technology and consumer discretionary sectors consisting of highly-traded growth stocks of technology and tech-enabled companies. The index s underlying composition is equally weighted across all stocks, providing a performance benchmark that allows for a more value-driven approach to investing.

Microsectors Fang Index 3X Inverse Leveraged ETN trades on the ARCA stock market under the symbol FNGD.

As of April 24, 2024, FNGD stock price declined to $40.53 with 927,195 million shares trading.

FNGD has a beta of -4.40, meaning it tends to be less sensitive to market movements. FNGD has a correlation of 0.63 to the broad based SPY ETF.

FNGD has a market cap of $141.85 million. This is considered a Micro Cap stock.

In the last 3 years, FNGD stock traded as high as $981.00 and as low as $33.48.

FNGD has underperformed the market in the last year with a return of -80.6%, while the SPY ETF gained +24.2%. In the last 3 month period, FNGD fell short of the market, returning -20.5%, while SPY returned +4.6%. However, in the most recent 2 weeks FNGD has outperformed the stock market by returning +12.9%, while SPY returned -2.7%.

FNGD support price is $39.24 and resistance is $43.02 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FNGD stock will trade within this expected range on the day.