MicroSectors FANG+ ETN (NYSEARCA:FNGS) Sees Significant Drop in Short Interest

MicroSectors FANG+ ETN (NYSEARCA:FNGS) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 51,598 shares, a decrease of 36.9% from the May 31st total of 81,768 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 40,788 shares, the short-interest ratio is currently 1.3 days.

Institutional Investors Weigh In On MicroSectors FANG+ ETN

A hedge fund recently bought a new stake in MicroSectors FANG+ ETN stock. Kingswood Wealth Advisors LLC acquired a new position in shares of MicroSectors FANG+ ETN (NYSEARCA:FNGS) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,183 shares of the company’s stock, valued at approximately $217,000.

MicroSectors FANG+ ETN Price Performance

NYSEARCA FNGS traded up $0.26 during midday trading on Thursday, hitting $73.82. 27,229 shares of the company traded hands, compared to its average volume of 49,875. MicroSectors FANG+ ETN has a 52 week low of $56.70 and a 52 week high of $80.76. The company’s 50-day simple moving average is $73.71 and its 200-day simple moving average is $67.92. The company has a market cap of $553.65 million, a PE ratio of 35.17 and a beta of 1.32.

About MicroSectors FANG+ 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.