MicroSectors U.S. Big Oil Index 2X Leveraged ETNs (NRGO)
MicroSectors U.S. Big Oil Index 2X Leveraged ETNs operates in the Asset Management - Leveraged industry of the Financial Services sector. The stock last traded at $15.81, down 0.44% on the session, giving a market capitalisation of $3.7M. Its beta of 0.00 implies it has historically moved less than the broad market.
This investment product seeks to provide twice the daily return of the Solactive MicroSectorsTM U.S. Big Oil Index. These are senior, unsecured, medium-term notes issued by Bank of Montreal, with their value directly tied to a double-leveraged participation in the index's compounded daily performance. This return is calculated prior to the deduction of a daily investor fee, a daily financing charge, and any applicable redemption fee. The benchmark index itself is composed of the 10 U.S.-listed companies with the largest market capitalizations in the energy and oil sectors, with each component holding an equal weighting.
MicroSectors U.S. Big Oil Index 2X Leveraged ETNs is most often compared with the following Financial Services names: