MicroSectors FANG+ Index -2X Inverse Leveraged ETN (FNGZ)
MicroSectors FANG+ Index -2X Inverse Leveraged ETN operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in US. The stock last traded at $2.43, up 0.00% on the session, giving a market capitalisation of $2.4M. Its beta of 0.00 implies it has historically moved less than the broad market.
This Exchange Traded Note (ETN), issued as a senior, unsecured medium-term note by Bank of Montreal, is designed to deliver daily investment results that correspond to two times the inverse performance of the NYSE Fang+™ Index. The ETN's value is structured to move inversely to the index's performance each day, at double the rate, with returns compounded daily. This return is net of a Daily Investor Fee, any negative Daily Interest, and a potential Redemption Fee Amount. The underlying NYSE Fang+™ Index is an equally-weighted benchmark composed of highly liquid growth stocks from technology and tech-enabled companies within the technology and consumer discretionary sectors.
MicroSectors FANG+ Index -2X Inverse Leveraged ETN is most often compared with the following Financial Services names: