FNGG Stock Summary and Trading Ideas (Direxion Daily Nyse Fang+ Bull 2X | ARCA:FNGG)

The Direxion Daily NYSE FANG+ Bull 2X Shares seeks daily investment results, before fees and expenses, of 200% of the performance of the NYSE FANG+ Index. The NYSE FANG+ Index (NYFANGT) is an equal-dollar weighted Index designed to track the performance of 10 highly-traded growth stocks of technology and tech-enabled companies. The Index is comprised of the securities of U.S.-listed companies that ICE Data Indices, LLC (the "Index Provider") has identified as FANG+ companies, which are comprised of the six FAANMG companies and four non-FAANMG companies. The Index Provider defines the FAANMG as Meta Platforms Inc. (META), Apple Inc. (AAPL), Amazon.com Inc. (AMZN), Netflix Inc. (NFLX), Microsoft Corp. (MSFT), and Alphabet Inc. Class A (GOOGL). The Index is reconstituted quarterly. One cannot directly invest in an index.

Direxion Daily Nyse Fang+ Bull 2X trades on the ARCA stock market under the symbol FNGG.

As of December 16, 2024, FNGG stock price climbed to $199.53 with 30,299 million shares trading.

FNGG has a beta of 3.31, meaning it tends to be more sensitive to market movements. FNGG has a correlation of 0.70 to the broad based SPY ETF.

FNGG has a market cap of $105.72 million. This is considered a Micro Cap stock.

In the last 3 years, FNGG traded as high as $251.00 and as low as $26.00.

FNGG has outperformed the market in the last year with a price return of +129.0% while the SPY ETF gained +30.5%. FNGG has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +45.6% and +22.1%, respectively, while the SPY returned +8.3% and +0.8%, respectively.

FNGG support price is $187.10 and resistance is $197.70 (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 FNGG shares will trade within this expected range on the day.