MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) Sees Unusually-High Trading Volume – Here’s Why

MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) saw unusually-high trading volume on Friday . Approximately 318,673 shares traded hands during mid-day trading, an increase of 82% from the previous session’s volume of 174,961 shares.The stock last traded at $59.02 and had previously closed at $60.07.

MicroSectors FANG+ Index ETN Stock Performance

The stock has a 50-day simple moving average of $58.93 and a two-hundred day simple moving average of $53.57. The firm has a market cap of $42.11 billion, a PE ratio of 58.44 and a beta of 1.69.

Institutional Investors Weigh In On MicroSectors FANG+ Index ETN

A hedge fund recently bought a new stake in MicroSectors FANG+ Index ETN stock. Janney Montgomery Scott LLC bought a new stake in shares of MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 51,215 shares of the company’s stock, valued at approximately $2,938,000.

About MicroSectors FANG+ Index ETN

The MicroSectors FANG+ ETN (FNGS) is an exchange-traded fund that is based on the NYSE FANG+ index. The fund tracks an equally-weighted index of US-listed technology and consumer discretionary companies, selected by a committee. FNGS was launched on Nov 15, 2019 and is issued by REX Microsectors.