MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) Sees Large Volume Increase – Should You Buy?

Shares of MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) saw unusually-strong trading volume on Friday . Approximately 318,673 shares were traded 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 Down 3.8 %

The stock has a market cap of $42.16 billion, a price-to-earnings ratio of 58.44 and a beta of 1.69. The company’s 50-day moving average is $58.95 and its 200-day moving average is $53.41.

Hedge Funds 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 position in shares of MicroSectors FANG+ Index ETN (NYSEARCA:FNGS) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 51,215 shares of the company’s stock, valued at approximately $2,938,000.

MicroSectors FANG+ Index ETN Company Profile

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.