MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN (NRGD)
MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN operates in the Asset Management - Leveraged industry of the Financial Services sector, headquartered in New York, NY, US. The stock last traded at $14.40, up 3.23% on the session, giving a market capitalisation of $1.4M. Its beta of 1.02 implies it has historically moved more than the broad market.
This senior, unsecured, medium-term note, issued by Bank of Montreal, is designed to deliver returns that are three times (3x) the inverse daily performance of its underlying index, compounded on a daily basis. Investors should note that these returns are subject to deductions including a daily investor fee, any negative daily interest, and, if applicable, a redemption fee. The underlying index itself is an equally dollar-weighted benchmark composed of the ten U.S.-listed energy and oil companies with the largest market capitalization.
MicroSectors U.S. Big Oil -3 Inverse Leveraged ETN is most often compared with the following Financial Services names: