MicroSectors FANG+ Index 2X Leveraged ETNs (FNGO)
MicroSectors FANG+ Index 2X Leveraged ETNs operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $161.63, up 0.07% on the session, giving a market capitalisation of $782.5M. Its beta of 3.02 implies it has historically moved more than the broad market.
These financial instruments represent senior, unsecured, medium-term debt obligations issued by Bank of Montreal. Their returns are intricately tied to a daily-compounded, two-times leveraged exposure to the performance of an underlying index. This calculation, however, occurs after accounting for a daily investor fee, a daily financing charge, and a potential redemption fee, should one be incurred. The referenced index employs an equal-dollar weighting methodology and is specifically designed to reflect a concentrated segment of the technology and consumer discretionary sectors, comprising actively traded, high-growth equities from both traditional technology firms and businesses significantly enabled by technology.
MicroSectors FANG+ Index 2X Leveraged ETNs is most often compared with the following Financial Services names: