MicroSectors U.S. Big Oil Index -2X Inverse Leveraged ETNs (NRGZ)
MicroSectors U.S. Big Oil Index -2X Inverse Leveraged ETNs operates in the Asset Management - Leveraged industry of the Financial Services sector. The stock last traded at $19.68, down 0.15% on the session, giving a market capitalisation of $28.5M. Its beta of 0.00 implies it has historically moved less than the broad market.
This financial product aims to deliver daily returns that are two times the inverse of the Solactive MicroSectorsTM U.S. Big Oil Index's performance. These are senior, unsecured medium-term notes, issued by the Bank of Montreal, with their value directly tied to a twofold leveraged inverse movement of the underlying index, calculated and compounded daily. This return is, however, subject to deductions for a Daily Investor Fee, any applicable negative Daily Interest, and a Redemption Fee, if triggered. The index itself is an equally dollar-weighted benchmark, comprising the ten largest U.S.-listed companies by market capitalization within the energy and oil sector.
MicroSectors U.S. Big Oil Index -2X Inverse Leveraged ETNs is most often compared with the following Financial Services names: