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BMO upsizes two series of MicroSectors FANG+ index ETNs
By Marisa Wong
Los Angeles, Sept. 21 – Bank of Montreal increased the principal amount of its MicroSectors FANG+ index 3x leveraged exchange-traded notes (Cusip: 063679872, NYSE Arca: FNGU) and MicroSectors FANG+ index negative 3x inverse leveraged ETNs (Cusip: 063679666, NYSE Arca: FNGD) to $200 million and $5 billion, respectively, according to an FWP filing with the Securities and Exchange Commission.
The ETNs, originally launched on Jan. 22, 2018, provide investors with positive 3x leveraged exposure and negative 3x inverse leveraged exposure to the NYSE FANG+ index on a daily basis.
The equally weighted index includes 10 highly liquid stocks that represent industry leaders across current tech and internet and media companies.
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