MicroSectors FANG+ Index Inverse ETN (GNAF)
MicroSectors FANG+ Index Inverse ETN operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in US. The stock last traded at $12.72, up 0.08% on the session, giving a market capitalisation of $12.7M. Its beta of 0.00 implies it has historically moved less than the broad market.
This investment product is designed to deliver returns that are inversely correlated to the daily performance of the NYSE Fang+™ Index. It is structured as senior unsecured medium-term notes, issued by Bank of Montreal. The return generated by these notes is directly tied to the opposite movement of the underlying index, calculated and compounded on a daily basis. From this return, several deductions are made: a daily investor fee, any negative daily interest that may accrue, and a redemption fee if applicable. The NYSE Fang+™ Index itself is an equal-dollar weighted benchmark. It tracks a concentrated group of actively traded, high-growth companies from both the technology and consumer discretionary sectors, specifically focusing on those that are primarily technology firms or heavily reliant on technology.
MicroSectors FANG+ Index Inverse ETN is most often compared with the following Financial Services names: