MicroSectors U.S. Big Banks Index -2X Inverse Leveraged ETNs (BNKZ)
MicroSectors U.S. Big Banks Index -2X Inverse Leveraged ETNs operates in the Asset Management - Leveraged industry of the Financial Services sector. The stock last traded at $14.84, down 2.75% on the session, giving a market capitalisation of $13.1M. Its beta of 0.00 implies it has historically moved less than the broad market.
This financial instrument is designed to provide investors with daily returns that are two times the inverse (opposite) performance of the Solactive MicroSectorsTM U.S. Big Banks Index. These are unsecured, medium-term debt obligations, categorized as senior notes, originating from Bank of Montreal. Their value is tied to a daily compounded, two-fold inverse leverage of the index's movements, from which a daily investor fee, any negative daily interest, and a redemption fee (if relevant) are subtracted. The underlying index itself is structured to equally weight, by dollar amount, the ten U.S. banking stocks that possess the highest market capitalization.
MicroSectors U.S. Big Banks Index -2X Inverse Leveraged ETNs is most often compared with the following Financial Services names: